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Epic Research Daily Agri Commodity Report Of 15 January 2019

World food prices were virtually unchanged in December, with firmer cereal prices helping offset declines in dairy and sugar quotations, the United Nations food agency said.
The Food and Agriculture Organization's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 161.7 points last month against 161.6 in November.
In 2018 the index averaged 168.4 points, down 3.5 percent from 2017 and almost 27 percent below the highest level of 230 points reached in 2011, FAO said.
"Sugar values dropped the most in 2018, with also vegetable oil, meat and dairy prices registering year-on-year decreases.
However, international prices of all major cereals rose in 2018," FAO said.
The annual rate of inflation, based on monthly WPI, stood at 3.80% for the month of December, 2018 as compared to 4.64% for the previous month and 3.58% during the corresponding month of the previous year.
According to the government data, deflation in food articles stood at 0.07 per cent in December, against 3.31 per cent in November.
Vegetables, too, saw deflation at 17.55 per cent in December, compared to 26.98 per cent in the previous month.
Inflation in the 'fuel and power' basket in December slumped to 8.38 per cent, nearly half of 16.28 per cent in November. This was on account of lowering of prices of petrol and diesel through December. Individually, in petrol and diesel inflation was 1.57 per cent and 8.61 per cent, respectively, and for liquified petroleum gas(LPG) it was 6.87 per cent during December.
Among food articles, potato prices became cheaper substantially with inflation at 48.68 per cent in December, as against 86.45 per cent in November. Inflation in pulses stood at 2.11 per cent, while in 'egg, meat and fish' it was 4.55 per cent.
Onion witnessed deflation of 63.83 per cent in December, compared to 47.60 per cent in November. The 3.80 per cent inflation is the lowest in 8 months, and a lower inflation than this was last seen in April at 3.62 per cent.
Data for retail or consumer price index-based inflation would be released later in the day. The Reserve Bank of India (RBI) mainly takes into account retail inflation data while formulating monetary policy. In its fifth monetary policy review for the fiscal, last month, the Reserve Bank kept interest rates unchanged, but held out a promise to cut them if the upside risks to inflation do not materialise.
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News Release: Epic Research Daily Agri Commodity Report Of 15 January 2019
Submitted on: January 15, 2019 05:51:56 AM
Submitted by: EpicResearch
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