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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.
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April.
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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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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.
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While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
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.
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.
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
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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"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.
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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.
Defence PRO said that the forces have managed to restore normalcy in the areas they were deployed and have been continuously working to aid the civil administration.
Superfoods like low-carb veggies and fatty fish will help diabetics keep their sugar under check.
'Interestingly in spite of slightly more than half (52%) the respondent farmers opposing the three new agri laws, almost 44% respondent farmers said the Modi government was 'pro-farmer'
As per the new system, the weekly wholesale price index data would cover only primary articles and commodities in the broad group -- fuel, power, light and lubricants, an official statement said.
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The wholesale price index-based inflation stood below one per cent mark for the fourth consecutive week after rising from sub-zero levels in the first week of September.
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