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☆ Hunger is India’s ‘biggest problem’ — one of the world's largest food producers leaves millions hungry
▼ + stars: | 2024-01-31 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

A labourer works inside a mill of refined wheat flour at Khanna in India's Punjab state on May 18, 2022. "Hunger is the biggest problem in India," a representative of global agribusiness Bunge told CNBC on the sidelines of the Commodity Trading Week held in Singapore. If they are getting the food, it's not nutritious," said Amit Sharma, Bunge's global trade execution team leader. India's Department of Food and Public Distribution did not immediately respond to CNBC's request for comment. Vipin Kumar | Hindustan Times | Getty ImagesIndia's food problem is also compounded by the fact that the rising middle class is on course to demand for more food — and better quality food as well.

Persons: Sajjad Hussain, Bunge, There's, Amit Sharma, Sharma, India's, Garima, Louis Dreyfus, Vipin Kumar, Jain, It's Organizations: AFP, Getty, CNBC, Logistics, International Trade Administration, U.S . Commerce Department, India's Department of Food, ITA, Hindustan Times Locations: Khanna, India's Punjab, India, Singapore

☆ India's role as a wheat exporter is now 'ruled out,' says agricultural merchant and processor
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's role as a wheat exporter is now 'ruled out,' says agricultural merchant and processorGarima Jain, deputy CEO and head of grains for India at Louis Dreyfus, says India's food security is paramount.

Persons: Jain, Louis Dreyfus Locations: India

Storms, floods, fires and other extreme weather events led to more than 43 million displacements involving children between 2016 and 2021, according to a United Nations report. But while catastrophes intensify, the world has yet to recognize climate migrants and find formal ways of protecting them. Nearly a third, or 43 million of the 134 million times that people were uprooted from their homes due to extreme weather from 2016-21 included children. Floods displaced children more than 19 million times in places like India and China. Many are enduring “overlapping crises” — where risks from climate extremes are compounded by conflict, fragile institutions and poverty, Healy said.

Persons: Shukri Mohamed Ibrahim, Ibrahim, That’s, ” Ibrahim, ”, Laura Healy, Healy, Kumar, ” Kumar, Meera Devi, Shiv Kumar, hasn’t, Mimi Vu, “, we’re, ” Healy, ___ Ghosal, Fassett, Omar Faruk, Piyush, Teresa de Miguel Organizations: United, UNICEF, Monitoring, AP Locations: United Nations, Somalia, Mogadishu, Philippines, India, China, U.S, Canada, Geneva, Horn, Africa, Caribbean, New Delhi, Vietnam, Bangladesh, Hanoi, Seattle, New York

June retail inflation rose to 4.81%, higher than both the revised 4.31% for the previous month and the 4.58% expected in a Reuters poll of 55 economists. Food inflation, which accounts for nearly half of the overall consumer price basket, rose to 4.49% against a revised 2.96% in May. Reuters GraphicsErratic and incessant rainfall in northern India could push vegetable prices higher in the coming months. Prices of vegetables will remain high in July and may push retail inflation to an "uncomfortable 5.3%-5.5%" this month, Nayar added. "We expect the monetary policy committee to see through the short-term spike in food inflation and remain on prolonged pause," said Garima Kapoor, economist at Elara Capital.

Persons: Aditi Nayar, Nayar, Garima Kapoor, Aftab Ahmed, Vineet, Christina Fincher, Mark Heinrich Our Organizations: NEW DELHI, Reuters, Reserve Bank of India, Elara, Thomson Locations: India

☆ Don't worry pizza-heads, NYC is still safe for pizza
▼ + stars: | 2023-06-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Lawmakers and prominent social media personalities have in recent days rallied against a proposed New York City rule that some say would crack down on the city’s beloved pizzerias. New York City is famously and deservedly known for its pizza. I hear New York City is trying to ban delicious pizza. New York City Mayor Eric Adams made a similar point during a press conference on Monday. So wait, did someone really throw a pizza at City Hall in protest of the proposed rule?

Persons: pizzerias, Sen, Marsha Blackburn, ” Dave Portnoy, Elon Musk, Michael Berman, Photodisc, “, Edward “ Ted ”, Michael Seilback, Pizza's, Artem Vorobiev, ”, Garima, Seilback, Eric Adams, wouldn’t, Adams Organizations: New, New York CNN — Lawmakers, Tennessee, Barstool Sports, Twitter, City Hall, City, city’s Department of Environmental, CNN, New York City Department of Environmental, Edward “ Ted ” Timbers, NYC Department of Environmental, American Lung Association, Getty, Columbia University, New York City Locations: New York, New York City, York City

☆ Instant View: Here’s what experts think of India's surprise rate decision
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +16 min

The monetary policy committee (MPC) retained the key lending rate or the repo rate (INREPO=ECI) at 6.50% in a unanimous decision. With the likely softening of CPI to the low- to mid-5% levels in the coming month, the current repo rate of 6.5% implies that India’s real policy rate will hover around 1% during 2023-24, while maintaining a policy rate differential of about 1.5% with the US. Room for additional rate hikes has been retained with MPC’s policy stance continuing to remain unchanged at ‘withdrawal of accommodation’. We believe the bar for future rate hikes has increased, especially since near-term prints of CPI will be sub 6%. Scope for further hikes is limited given our growth-inflation outlook and impact of the past rate hikes on the same.

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

NEW DELHI, Nov 30 (Reuters) - India posted annual economic growth of 6.3% in its July-September quarter, less than half the 13.5% growth in the previous three months as distortions caused by COVID-19 lockdowns faded in Asia's third-largest economy. Economists warned, however, that growth momentum may ease in the December quarter due to higher interest rates and slowing exports. "Even as domestic growth drivers on services side continue to remain robust, weakening global demand amid tightening financial conditions remains the key risk for growth outlook for India," said Garima Kapoor, economist at Elara Capital. Slowing global growth has also started to hurt exports, which fell 17% over a year ago in October. "Services on the supply side and investments in the demand side would continue to be the main drivers of growth," said Sujan Hazra, chief economist at Anand Rathi.

☆ New Delhi’s air pollution leaves residents gasping for breath
▼ + stars: | 2022-11-14 | by ( Gafira Qadir | ) www.nbcnews.com time to read: +5 min

By the first week of November, New Delhi’s air quality index was 472, high enough to affect healthy people while having a serious impact on those with existing conditions. In some areas of the city, the reading exceeded 800, according to the Delhi Pollution Control Committee, a regulatory body. Experts say exposure to low air quality levels increases the risk of respiratory infections, heart disease and lung cancer. In response to the poor air quality, Delhi officials ordered the closure of primary schools and reduced outdoor activities for older students from Nov. 4 to 9. A government vehicle sprinkles water to control air pollution in New Delhi last month.

[1/3] Soccer Football - FIFA World Cup Qatar 2022 Preview - Doha, Qatar - October 12, 2022 An image of Brazil's Neymar is seen on a building REUTERS/Hamad I Mohammed/FilesJOHANNESBURG/BENGALURU, Nov 11 (Reuters) - Brazil are tipped to claim the World Cup for the sixth time in the tournament that kicks off Nov. 20 in Qatar, according to a Reuters poll that last successfully predicted the champions in 2010. The global survey of 135 football-following market analysts worldwide agreed with the bookmakers that Brazil would triumph for the first time since 2002. Almost half of respondents expected Brazil to win while 30% were evenly split between France and Argentina. If France were to retain the trophy they would be the first to do so since Brazil in 1962. Reuters Poll- 2022 FIFA World CupQatar has reportedly spent around 220 billion dollars on hosting the tournament - almost fifteen times more than the second-most expensive one - but 41% of respondents said it would have no long-term economic impact.

☆ INDIA RUPEE Rupee eases as Fed sticks to hawkish tone
▼ + stars: | 2022-11-03 | by ( Anushka Trivedi | ) www.reuters.com time to read: +1 min

The rupee eased to 82.85 per dollar, against its previous close of 82.78. The currency had consolidated around 82.70 all of this week ahead of the U.S. central bank meeting. The Fed raised its benchmark funds rate by 75 basis points (bps) to 3.75%-4% as widely expected overnight. "This gives some breather to India as the country's central bank may not have to hike as aggressively." The Reserve Bank of India meets later in the day for a special meeting, most likely to discuss its first ever inflation target miss.

The RBI's Monetary Policy Committee (MPC), established in 2016, is mandated to keep inflation within 2 percentage points on either side of its 4% target. Reuters GraphicsGarima Kapoor, an economist at Elara Capital, said retail inflation was likely to ease to an average of 6% only by January-March. "We expect the Monetary Policy Committee (MPC) to hike policy repo rate by another 40-50 bps this financial year," she said, and higher inflation could mean further rate hikes. Annual retail inflation (INCPIY=ECI) in September was higher than the 7.3% forecast by economists in a Reuters poll, and above 7% the previous month, data released by the National Statistics Office on Wednesday showed. Food inflation, which accounts for nearly 40% of the CPI basket, rose 8.60% in September, compared to 7.62% in August.

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