Agri Buzz: Cereals And Spices May Stay Elevated In Near Term On Supply Concerns

7 Dec 2022 , 12:06 PM

RBI stated today that domestic vegetable prices are likely to see seasonal winter correction while prices of cereals and spices may stay elevated in the near-term on supply concerns. High feed costs could also keep inflation elevated in respect of milk. Adverse climate events – both domestic and global – are increasingly becoming a significant source of upside risk to food prices. However, in the agricultural sector, a pick-up in rabi sowing, 6.4 per cent higher than a year ago on December 2 is supported by the good progress of the north-east monsoon and above average reservoir levels. Powered by Commodity Insights