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INDIA – Britannia Industries Ltd, India’s largest biscuit maker, has forecast low single-digit input cost inflation for the current fiscal year, around 3%. Speaking in an interview, Varun Berry, company vice-chairman and MD said that the company will closely monitor input costs and will remain watchful of competitive pricing activities. “We are now in a phase where inflation is going…
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INDIA – Oilseed growers in India want the government to revitalize the domestic rapeseed market by raising the import tax on palm oil, the most widely used vegetable oil, which will also raise the prices of the commodity, cushioning thousands of local farmers from further price crash. Last year India abolished the basic import tax on crude palm oil (CPO),…
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INDIA- Maggi noodles manufacturer, Nestlé, is exploring locations for its tenth factory in India and is considering the east, where the food giant has no representation by a factory in the country. India is Nestlé’s second-largest market in Asia by sales, and the company is working on expanding its footprint further in the country, establishing itself in all of India’s…
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INDIA- Wheat procurement in India, the world’s second-biggest wheat producer, has increased by almost 1 million tonnes, jumping from 18.8 million tonnes last year to 19.5 million tonnes as of 26th April 2023. According to unnamed government officials, this increase has brought the wheat procured to more than the total purchases made in the previous year, a report by Zawya…
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INDIA – The Government of India has signed a Memorandum of Understanding (MoU) with the United Nations World Food Programme (WFP) to deliver humanitarian assistance comprising 10,000mt of wheat for the people of Afghanistan. Afghan citizens are reeling from the effects of the acute food crisis in the country due to severe drought, a faltering economy, and many years of…
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INDIA – Adani Wilmar, a leading packaged food company in India has recorded a year-on-year (YoY) volume growth of 14% in the last fiscal, helping the company’s revenue to cross Rs 55,000 crore (US$6.7M) in FY23, reports ET Retail. Adani Wilmar is a joint venture between Indian conglomerate Adani Group and Singapore’s Wilmar Group which specializes in offering most of the…
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INDIA- A Global Agricultural Information Network report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA) forecasts MY 2023/2024 wheat production at 108 million metric tons (MMT) from 31.9 million hectares. This production is up from the 100MMT estimated in MY 2022/2023, based on 30.5 million hectares. This impressive estimated production is attributed to favorable weather…
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INDIA- The Food Safety and Standards Authority of India (FSSAI) has developed a comprehensive group standard for millets to be enforced from September 1, provided under the Food Safety and Standards, Second Amendment Regulations, 2023. There are currently individual standards for only a few millets like sorghum (jowar), whole and decorticated pearl millet grain (bajra), finger millet (ragi), and amaranth…
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WEST AFRICA – The Indian government has approved the export of 350,000 tonnes of broken rice to Senegal and Gambia after six months of the ban, Agence Ecofin has reported. In September last year, India banned exports of broken rice and imposed a 20% duty on exports of various other types to boost its local supplies and calm prices after…
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INDIA -The Roller Flour Millers’ Federation of India president says the country’s ban on wheat exports since May last year successfully lowered prices and should continue, Reuters reported. Last year, after Russia invaded Ukraine, grain exports from India, the world’s second-biggest producer after China, surged after the catastrophe boosted global prices. However, a sudden rise in temperatures in March 2022…
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