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Food Inflation Estimate by CRISIL: The central government is trying to control food inflation in the country by measures like open sale of wheat and import duty on edible oil, but now a news has come which may be a cause of concern for the government.
Due to the uncertainty of climate change, strong global and domestic demand, grain prices may remain high in the next financial year i.e. 2023-24. Credit rating agency Crisil has given this information. Crisil has clearly said that the recent experience shows that there is no possibility of further increase in the prices of food grains, but due to global reasons, the prices of food grains may increase in the country, due to which the inflation of food items has increased. May go.
What is special in Crisil’s report
A Crisil report states that domestic production of food grains has increased continuously in the last 50 years, but its prices have increased much faster. The weighted average crop price index for cereal crops has been 3-4 per cent on an annual basis during FY 2017-22.
Food grains have become costlier even in the current financial year – what is the possibility for the future
It has been said that even in the current financial year, the prices of cereals have increased significantly on an annual basis in the first nine months. There has been an increase of 8-11 per cent in wheat and paddy and 27-31 per cent in maize, jowar and bajra.
“The overall price trend for cereal crops is expected to remain firm,” CRISIL said. Expectation of higher production of wheat in the current Rabi season will improve the stock position, which may reduce the pressure on prices. Production expectations for kharif crops like paddy, maize and millets will be positive if the distribution of normal monsoon is good.
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