Days after their passage in the Lok Sabha, Tomar introduced the Farmer's Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, and the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 in the Rajya Sabha.
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Price of potato, a daily consumable vegetable, rose 58.78 per cent during the month
Vegetable inflation softened to 24.76 per cent in June, down from 33.15 per cent in the previous month. Inflation in potato was (-) 24.27 per cent, against (-) 23.36 per cent in May.
The government is looking at tweaking provisions of the Indian Contracts Act of 1872 to bring agreements between farmers and companies under its ambit, aiming to prevent exploitation of farm people.
People in the know said plans were afoot to begin the sale of all food grains through online, with a major quantity through auctions that would be later extended to other commodities.
According to data released by the government, prices of potatoes declined by 12.66 per cent year-on-year, while pulses fell by 5.02 per cent, onions by 3.64 per cent and wheat by 2.06 per cent.
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This is the second consecutive week when food inflation has declined. On annual basis, potato prices eased by 49.69 per cent and onions became cheaper by 6.93 per cent.
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Annual food inflation fell for the second straight week, to 10.05 per cent for the week ended August 14, as prices of vegetables like potato and onion declined.
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The region witnessed a bumper potato crop of 9.5 million tonnes -- 73 per cent higher than last year's production. Wholesale prices in Kolkata crashed to Rs 300 a quintal. Retail prices, too, dropped to Rs 6-8 a kg. Farmers were forced to sell their produce at Rs 3-3.50 a kg, almost half of last year's price.
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"There are 12,000 farmers doing contract farming of potato for us involving 16,000 acres of land," executive vice president of PepsiCo Holdings (agro-business) Nischint Bhatia told PTI.
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The wholesale price-based food inflation rose for the fourth consecutive week. In the previous week it stood at 17.94 per cent.
The rate of price rise of food items was 12.92 per cent in the previous week ended June 19.
This is the second week in a row that food inflation has increased, after easing for three successive weeks.
For the week ending January 2, food inflation (prices of non-processed food articles) stood at 17.28 per cent.
Food inflation softened to 18.22 per cent as of the week ended December 26, although potato and pulses continued to cost high. The wholesale price based inflation was 19.83 per cent in the previous week.
Potato prices remained high recording an increase of 115 per cent on a year-on-year basis, followed by pulses whose prices jumped by 41.61 per cent. Vegetables as a whole turned expensive by 37.97 per cent.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
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