India’s imports of milk, grain, beverages in April-July 2010 up 22% over 2009

by Dave

1 Crore is 10 million. 1 USD – ~~ 44 Indian Rupees. You do the math. If you’re in the business of feeding India, you don’t know what “global recession” people are talking about.
The Hindu Business Line

Import of food grains jumped 3100 per cent to Rs 111.7 crore in April-July 2010 from just Rs 3.5 crore last year. This is mainly due to import of wheat by flour millers in south India.

Import of milk and milk products in the period under review was Rs 370.4 crore, a 324.5 per cent increase
from only Rs 87.3 crore in the same period last year. In March, the Government had allowed duty-free imports of up to 15,000 tonnes of butter oil and 30,000 tonnes of milk powder, anticipating shortfalls in milk supplies to cities ahead of the summer season.

Edible oil import grew 18.9 per cent to Rs 8,763.7 crore during April-July this fiscal from Rs 7,371 crore last year. A significant feature of edible oil import is that import of crude oil has gone up by 25.9 per cent to Rs 7,958.6 crore (Rs 6,319.8 crore), while imports of refined oil have fallen by 23.4 per cent to Rs 805.1 crore (Rs 1,051.3 crore). The increase in edible oil import is mainly due to substantial increase in import of soya-bean crude oil, the statement said.

Among those other sensitive items whose import growth has increased during the period under reference include  fruits and vegetables including nuts (up 10.8 per cent to Rs 2,178.3 crore), spices (11.9 per cent to Rs 302.7 crore), alcoholic beverages (85.2 per cent to Rs 147.4 crore).
Food inflation in India for the week ended September 25 was 16.24 per cent, mainly because of soaring prices of milk, fruits and vegetables.

Technorati Tags: ,