Vegetable prices will cool down soon: Govt

Vegetable prices will cool down in the coming weeks as ample supplies likely to hit the markets, Minister of State for Agriculture and Food Processing Tariq Anwar said today.

 

Due to higher vegetable prices, WPI inflation has increased to 6.46%, while CPI inflation has risen to 9.84% in September.

 

"Due to continuous rains, adequate supplies from agricultural fields could not reach markets. We feel prices will cool down in the coming weeks. Consumers will see the benefit of good rains," Anwar told reporters on the sidelines of launch of an investors portal for food processing industry.

 

Citing reasons for soaring vegetable prices, the minister said on one side there has been hoarding, while on the other side continuous rains has disrupted supplies.

 

The recent cyclone in Odisha and Andhra Pradesh has also been impacting prices as crops have been damaged, he added.

 

In retail markets of the national capital, onion prices are still ruling high at Rs 60-70 per kg, while potato and tomato are available at Rs 25-35 per kg and capsicum at Rs 100 per kg, according to vendors.

 

After launching investors portal for food processing industry, Anwar said: "Food processing sector is not attracting investment due to lack of information about various schemes. The new portal will help investors."

 

Investors' portal intends to provide information, particularly to investors, about infrastructure facilities for setting up food processing units, availability of raw material, marketing infrastructure, sector specific state agencies, and fiscal incentives in a user friendly mode and helps them to make informed decisions, he said.

 

Apart from dissemination of information, the web portal also offers online support to investors with regard to their queries and provides hand holding services in the initial stage of setting up their units, Food Processing Secretary Siraj Hussain said.

 

The Minister also released "Opportunities in Agri Business" which is a compilation of detailed profiles of different states.

 

The profiles contain information on production base, availability of raw material, agri-marketing infrastructure, potential for investment and States' policies for development of food processing industries.