Monday, November 29, 1999

Food prices stabilise

News posted by www.newsinfoline.com

Food prices across most big cities in the country remained largely stable during the week ending May 10, mainly due to good rabi arrivals and positive outlook about the forthcoming monsoon season, which curbed any possibility of speculative hoarding of rabi crops. Traders said scattered rains in some parts of the country also helped in keeping prices down as it signaled that monsoon might be normal this year.Rice prices in the retail markets across 10 major cities tracked by FE as per the department of consumer affairs records remained in the range of Rs 17 to Rs 23 per kg. India 's overflowing foodgrains stocks which on May 1 were estimated to be over 40 million tonne also had a big role in keeping retail markets down. "No trader wants to hoard grain now, as there is no incentive to do so," a Delhi-based foodgrain wholesaler said. Wheat prices in the retail markets also remained stable at around Rs 13 to Rs 18, while it declined marginally in Chennai by just Rs 1 per kg to Rs 20 per kg. Price of tur dal which has been rising since the last few weeks because of increase in global markets also showed signs of stabilizing at the higher levels during the week ended May 10, 2010. Retail price of tur dal in Ahmedabad declined by 5.7% during the week ended May 10 and rose by 3.12% in Lucknow to Rs 66 per kg. Trade sources said pulses prices in the country, which has rose to record levels in late 2009 and early 2010, are once showing some sign of firming up. Prices of sugar rose marginally over reports that the government might re-impose some of the price control measures.

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