Agri Buzz: RBI Highlights Upside Risk To Food Prices, Says Cereal Price Pressure Spreading

30 Sep 2022 , 12:40 PM

The Reserve Bank of India (RBI) Governor Shaktikanta Das stated today that acute imported inflation pressures felt at the beginning of the financial year have eased but remain elevated across food and energy items. Edible oil price pressures are likely to remain contained on improved supply from key producing countries and measures taken by the Government. There are also upside risks to food prices. Cereal price pressure is spreading from wheat to rice due to the likely lower kharif paddy production. The lower sowing for kharif pulses could also cause some pressures. The delayed withdrawal of monsoon and intense rain spells in various regions have already started to impact vegetable prices, especially tomatoes. These risks to food inflation could have an adverse impact on inflation expectations, Das noted further. Powered by Commodity Insights