Prices of Essential Commodities Decline Amid Global Tensions
Prices of rice, wheat, atta and pulses fall despite West Asia war
Mint
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In India, prices of essential commodities such as rice, wheat, and pulses have decreased over the past year, attributed to government interventions and stable domestic supply. Consumer affairs secretary Nidhi Khare noted that these measures have prevented sharp price spikes despite global disruptions, including the ongoing war in West Asia.
- 01Rice prices fell to ₹42.61 per kg from ₹42.89 a year ago.
- 02Wheat prices decreased to ₹31 per kg from ₹31.76.
- 03Pulses, including tur dal and gram dal, showed significant price drops.
- 04Retail inflation rose to 3.21% in February, influenced by vegetable prices.
- 05The government is monitoring 40 essential commodities daily to manage inflation.
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Prices of essential commodities in India, including rice, wheat, and pulses, have shown a decline, reflecting effective government measures to stabilize the market despite external pressures from the ongoing war in West Asia. Consumer affairs secretary Nidhi Khare reported that rice is now priced at ₹42.61 per kg, down from ₹42.89 a year ago, while wheat has decreased to ₹31 per kg from ₹31.76. Wheat flour (atta) also saw a reduction, now at ₹36.98 per kg compared to ₹37.6 last year. Pulses, which have historically driven food inflation, have softened significantly, with tur dal dropping to ₹122.05 per kg from ₹130.63, and gram dal decreasing to ₹85.04 from ₹87.59. The government is actively monitoring prices of 40 essential commodities daily to mitigate imported inflation risks. Retail inflation reached a 10-month high of 3.21% in February, influenced by rising vegetable prices. Experts emphasize the need for the government to ensure that farmers receive fair prices for their produce while managing consumer costs.
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The decline in prices of essential commodities is beneficial for consumers, potentially easing the financial burden on households. However, it raises concerns about farmers' income, necessitating government action to ensure fair pricing for agricultural products.
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