Page 6 - Food Prices

2030 development goals in trouble, 575 mn people will remain very poor: UN

In a grim report, the UN warned Monday that at the current rate of global progress 575 million people will still be living in extreme poverty and 84 million children won't be going to school in 2030 and it will take 286 years to reach equality between men and women. The report on progress in achieving 17 wide-ranging UN goals adopted by world leaders in 2015 to improve life for the world's more than 7 billion people said that only 15 per cent of some 140 specific targets that experts evaluated are on track to be reached by the end of the decade. Close to half the targets are moderately or severely off track, it said, and of those 30 per cent have either seen no movement at all or regressed including key targets on poverty, hunger and climate. The ambitious goals for 2030 include ensuring that hunger is eradicated and nobody lives on less than USD 2.15 a day which is the extreme poverty line, providing every child with a quality primary and secondary school education, achieving gend

Inflation likely rose to 4.58% in June on higher food prices: Reuters poll

"We believe the RBI will tolerate a supply-side driven rise in food inflation as long as core price pressures continue to ebb within the bank's tolerance band," said Alexandra Hermann

UN world food price index hit almost 2 years low at 122.3 points in June

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally-traded food commodities, averaged 122.3 points in June

Mother Dairy reduces MRP of Dhara edible oil by Rs 10 per litre

Mother Dairy, which is a leading milk supplier in Delhi-NCR, on Thursday said it has reduced the maximum retail price (MRP) of its Dhara edible oils by Rs 10 per litre and the stocks with new rates will be available in the market from next week. The reduction in the MRP is in line with fall in prices of edible oils in the global market, the company said. "The maximum retail price (MRP) of all variants of Dhara edible oils is being reduced by Rs 10 per litre on account of the continued decline in edible oil prices internationally and better availability of domestic crops such as mustard," a company spokesperson said. The revised MRP stocks are slated to hit the market within a week, the spokesperson added. The new rate of Dhara refined Soyabean Oil will be Rs 140 per litre. Dhara Refined Ricebran Oil MRP has been cut to Rs 160 per litre. The new MRP of Dhara Refined Vegetable Oil will now be Rs 200 per litre. Dhara Kachi Ghani Mustard Oil will be available at Rs 160 per litre MRP

World food prices index rise in April for first time in a year: FAO

The Rome-based agency said the April rise reflected higher prices for sugar, meat and rice, which offset declines in the cereals, dairy and vegetable oil price indices

For a veg thali of Rs 100, Indians paid Rs 109 in 2022; Rs 132 for non-veg

The rise was sharper in the case of non-veg thali because chicken prices rose 55% between April and December

Inflation relief camp 'Mehangai Rahat' finds many takers in Rajasthan

Around 650,000 people across the state had reportedly registered themselves under different welfare schemes of the state government to get relief from inflation

Food prices in UK rise at fastest rate in 45 years; March figure above 10%

March figure sticks above 10%, lifting prospect of interest rate hike

WPI inflation at 29-month low in March, prices of manufactured goods dip

It was for the sixth consecutive month that wholesale inflation was down to single digits, after remaining in double digits for 18 months

India's food inflation bites harder as risks build for global supplies

Its average citizen is more affected than people in peer economies

India is not immune to the stagflation that felled its neighbours

Not much help is expected from the global economy. Financial conditions are tight almost everywhere, and demand tepid

A year after, the global economy changed by Russia Ukraine war: Report

Food prices have soared, increasing hunger in the developing world, and forcing governments, businesses and people to adapt to lasting shifts, The Guardian reported

Global trade remains resilient, performing better despite Russia war: WTO

Global trade "has held up well" in the face of the Russia-Ukraine war, WTO Chief Economist Ralph Ossa said

Govt to offload 30 mn MT wheat to cool down prices via open market disposal

the government takes various steps from time to time to augment domestic availability and control increasing food prices

WEF Davos summit to call on world leaders to address economy, food crises

The World Economic Forum (WEF) on Tuesday said its annual Davos meeting will call on leaders from across the globe to address immediate economic, energy and food crises while laying the groundwork for a more sustainable and resilient world. Announcing the schedule for the five-day meeting in the Swiss ski resort town of Davos from January 16-20, the WEF said it is expecting significant participation from Asia, including China and Japan. From India, at least four union ministers -- Mansukh Mandaviya, Ashwini Vaishnaw, Smriti Irani and R K Singh -- as also three chief ministers -- Yogi Adityanath, Eknath Shinde and B S Bommai -- are expected to be present, in addition to nearly 100 leaders from business and other areas. The theme of the 53rd Annual Meeting would be 'Cooperation in a Fragmented World' and it will convene more than 2,700 leaders from 130 countries, including 52 heads of state/government. Top political leaders taking part include German Chancellor Olaf Scholz, European

Global food prices in 2022 hit record high amid drought, Russia-Ukraine war

Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia's war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, dipped by 1.9% in December from a month earlier, the Rome-based organisation said Friday. For the whole year, it averaged 143.7 points, more than 14% above the 2021 average, which also saw large increases. The December decline was led by a drop in the price of vegetable oils amid shrinking import demand, expectations of increased soy oil production in South America and lower crude oil prices. Grain and meat were also down, while dairy and sugar rose slightly. Calmer food commodity prices are welcome after two very volatile years, FAO chief economist Maximo Torero said in

Statsguru: Energy to food prices, 6 charts explain India's inflation woes

In terms of food prices, India seems to be doing much better than the Western economies, owing to it being less dependent on imports

IMF approves deal to provide $3 bn support package to cash-strapped Egypt

The International Monetary Fund has approved a deal that will provide a USD 3 billion support package to cash-strapped Egypt over a period of almost four years, with the agreement expected to draw in additional USD 14 billion in financing for the Middle East country. The announcement from the IMF's executive board late on Friday comes after a preliminary agreement was reached in October between Egypt and the fund, hours after Egypt's central bank introduced a series of reforms, including a hike in key interest rates by roughly 2 percentage points. The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine, events that have played havoc with global markets and hiked oil and food prices worldwide. Egypt is the world's largest wheat importer, most of which came from Russia and Ukraine. The country's supply is subject to price changes on the international market. The deal announced on Friday known as an Extended Fund Facility Arrangement is expected to

Food prices in Poland unlikely to fall next year, says Minister Kowalczyk

He added that Poles did not have to worry about the country's food security as Poland was a huge food producer and exporter

NSUI writes to HP Guv over food price, quality at joints in University

Congress' student wing NSUI on Friday urged Governor Rajendra Vishwanath Arlekar to set up a committee to fix the price of food and check its quality at food joints in the Himachal Pradesh University. Yaseen Batt and Yogesh Yadav, the president and vice president of the National Students Union of India, HPU unit, in their memorandum to the governor urged him to include the members of their group too in the committee. The NSUI also demanded that students of BA, BSc, and BCom who failed in EVS exam, should be passed as there are no EVS teachers in any college of the state. In their memorandum, they also demanded a refund of fees of first year students, who passed the re-evaluation. Investigation of the quality of construction works going on in the university and cancellation of fake admissions in PhD were the two other demands that found a mention in the NSUI letter.