Risks to cereal inflation: Is rice the new wheat?
The retail price of rice, the most widely consumed cereal, is on the rise. After battling over a year of surging wheat prices, rice could pose a new challenge for India, the top exporter globally. A lot depends on how the monsoon pans out. Mint explains:
How are prices moving?
According to the consumer affairs ministry, the average retail price of rice was ₹39.3 per kg on 3 June. That’s 8.5% higher than last year. In comparison, retail wheat inflation was at 5.6% on the same day. In the cereals, pulses and oilseeds basket, retail price rise is the steepest for rice currently, except for tur dal (pigeon pea), a pulse variety. Data from the wholesale price index published monthly shows that April rice prices were 7.7% higher than last year, compared to 7.1% inflation for wheat. The price surge in rice with wheat staying firm means that managing cereal inflation will not be an easy task.
Read also
Wheat in Southern Brazil Impacted by Dry Weather and Frosts
Oilseed Industry. Leaders and Strategies in the Times of a Great Change
Black Sea & Danube Region: Oilseed and Vegoil Markets Within Ongoing Transfor...
Serbia. The drought will cause extremely high losses for farmers this year
2023/24 Safrinha Corn in Brazil 91% Harvested
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon