Food Inflation: Contingent and Structural Factors

Food prices in the immediate future can be controlled only through large imports. Wheat stocks are adequate but rice stocks are not. There will be a fiscal cost because global prices are above domestic prices, but this will not be above 1 per cent of central government expenditure. This may be the b...

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Bibliographic Details
Published in:Economic and political weekly 2010-03, Vol.45 (10), p.16-19
Main Authors: KUMAR, RAJIV, VASHISHT, PANKAJ, KALITA, GUNAJIT
Format: Article
Language:English
Subjects:
Agricultural production
Agriculture
Cereals
COMMENTARY
Crop economics
Crude oil prices
Drought
Economic aspects
Ethanol
Expenditures
Exports
Food demand
Food economics
Food prices
India
Inflation
Inflation (Finance)
International trade
Logistics
Procurement
Rain
Retail stores
Rice
Stocks
Sugarcane
Supplies
Supply
Supply and demand
Wheat
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Summary:Food prices in the immediate future can be controlled only through large imports. Wheat stocks are adequate but rice stocks are not. There will be a fiscal cost because global prices are above domestic prices, but this will not be above 1 per cent of central government expenditure. This may be the best option since food inflation is now threatening to become generalised.
ISSN:0012-9976
2349-8846