Prices of food items continuing to increase in May, says RBI report

Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee’s (MPC’s) surprise move to increase interest rates bodes well for its credibility. The RBI’s monthly State of […]

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FAO calls for import financing facility as food prices surge due to the Ukraine war

The Food and Agriculture Organization of the United Nations (FAO) is calling for a global Food Import Financing Facility (FIFF) to help poorer countries deal with surging prices as a result of the war in Ukraine. The FIFF, which is also aimed at increasing global agricultural production and productivity in a sustainable way, is one of six policy […]

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Multilateral institutions call for urgent coordinated action on food security

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The Heads of the World Bank Group (WBG), International Monetary Fund (IMF), United Nations World Food Program (WFP), and World Trade Organization (WTO) have called for urgent action on food security. “The world is shaken by compounding crises. The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters […]

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Fitch Ratings cut world growth forecasts as inflation intensifies due to war

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The outlook for global GDP growth has deteriorated significantly as inflation challenges intensify and Russia’s invasion of Ukraine threatens global energy supplies. Fitch Ratings’ March 2022 Global Economic Outlook sees world GDP growth reduced by 0.7pp in 2022 and sharp upward revisions to inflation forecasts. “Global inflation is back with a vengeance after an absence […]

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India and Pakistan coming close to an understanding on Afghan wheat transit

India has provided a list of Afghan contractors and truck drivers to the Pakistan government who would transport the Indian consignment of 50,000 metric tonnes of wheat to Afghanistan as humanitarian assistance, as the two neighbours inch closer towards finalising the agreement, a media report said. Both countries have agreed to the modalities, and the […]

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FSSAI planning to launch risk management system for domestic market; to introduce one ‘Food Safety on Wheels’ vehicle in every district

India’s food regulator Food Safety and Standards Authority of India (FSSAI)  is planning to develop a risk management system for the domestic sector similar to the system already in place for imported products for sampling and inspection. This will include the product details, manufacturer profile, compliance reports to reduce the incidence of unnecessary inspection by […]

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South Korea’s food company, Orion enters the Direct-to-Consumer (D2C) space in India

One of South Korea’s leading food companies, Orion, has entered the $ 44.6 billion Direct-to-Consumer space in India.  With the launch of its website ShopOrionIndia.com the company has announced its readiness to ride on its digital success with eCommerce which so far contributes about 25 per cent of its annual sales. This move comes within a year […]

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