NEW DELHI (Reuters) – Wheat stocks in India's government warehouses will fall by about 13% by early next month from current levels but will be sufficient for welfare schemes of the country, the ministry of consumer affairs and food said on Thursday.
Wheat stocks in government warehouses for December fell to the lowest in six years, as prices jumped to a record high on rising demand and falling inventories. India, the world's second-biggest wheat producer, placed a ban on its exports in May.
About 15.9 million tonnes of wheat will be available as of Jan. 1, higher than the buffer requirement of 13.8 million, according to a government statement. Around 18.2 million tonnes are available as of now.
The government said there had been a "fair increase in the sowing of wheat crop as compared to last year", which should boost stocks in the next procurement season beginning April.
"Government of India has ensured that sufficient stock of food grains are available in the central pool to meet the requirement of all the welfare schemes across the country and prices remain under control," the statement said.
The statement comes as wheat prices in the country have seen a surge due to a drop in yields. The government has blamed this on lower production last season and the fact that farmers sold the crop on the open market at prices higher than state-guaranteed prices.
Wheat reserves in state stores fell to 19 million tonnes on Dec. 1 from 37.85 million tonnes a year ago, government data showed. The last time stocks for December were this low was in 2016, when droughts in the previous two years had hit wheat output.
(Reporting by Sakshi Dayal; Editing by Krishna N. Das)
Canary Media’s chart of the week translates crucial data about the clean energy transition into a visual format. In 11 U.S.
India is taking most of Russia's Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data. Volumes and India's share of the exports are expected to rise month on month despite a shorter loading plan for Russia's Western ports, traders said. In November India accounted for about 53% of the total tanker shipments of the grade – the highest level on the record.
If so, investors should expect bad news to be bad news for stocks heading into the new year — and there may be plenty of it. Investors have spent 2022 largely focused on the Federal Reserve and its rapid series of large rate hikes aimed at bringing inflation to heel. Economic news pointing to slower growth and less fuel for inflation could serve to lift stocks on the idea that the Fed could begin to slow the pace or even begin entertaining future rate cuts.
Retired Americans are feeling the pressure of returning to work due to rising prices and the COVID-19 pandemic. But reentering the workforce while earning Social Security benefits could have consequences. We'll take a look at the obstacles retirement-age Americans are … Continue reading → The post Unretiring? Don't Make These 3 Social Security Mistakes appeared first on SmartAsset Blog.
Or is it just hot air?
Donald Trump launched 45,000 nonfungible token cards yesterday, and all have sold out in less than 24 hours, according to OpenSea.
In this article, we talk about the 25 most dangerous countries in the world in 2022. You can skip our detailed analysis of the relationship between crime and economic growth around the world and go directly to 5 Most Dangerous Countries in the World in 2022. Crime, Instability and Economy Research from Auburn University shows […]
‘I can’t do this anymore,’ Steve Bannon says
Sen. Mike Lee (R-UT) proposed a bill on Tuesday that, if passed, would redefine what obscenity means nationwide, which could effectively decimate the porn industry. The Utah Republican filed the Interstate Obscenity Definition Act (IODA) based on the Communications Act of 1934, and stated in the IODA that “obscenity is not protected speech under the First Amendment and is prohibited from interstate or foreign transmission under U.S. law.”
Donald Trump teased a “major announcement” on social media, but it ended up just being an NFT card collection.
In this piece, we will take a look at the 15 most advanced countries in military technology. For more countries, head on over to 5 Most Advanced Countries in Military Technology. Military technology, or the use of technology for the brutal art of warfare, is one of the oldest domains in human history. From the […]
Vermont state Rep. Taylor Small talks to NBC News about popping the question to her girlfriend at the historic White House bill signing.
(Bloomberg) — Most Read from BloombergHarry and Meghan Aren't Doing Themselves Any FavorsOhio Man Who Posed in Tub Full of Cash to Plead Guilty in Bitcoin Theft CaseUkraine Latest: Germany Says No Ceasefire on Russian TermsVerizon Lost Its Network Superiority — Now It’s Paying the PriceHedge Fund Manager Netting 29% Gain Sees S&P 500 Going NowhereGermany opened its first state-chartered liquefied natural gas vessel as Europe’s largest economy races to replace Russian gas amid an energy crunch a
The outgoing House speaker said there was “a need for an intervention" with the former president.
The US Energy Department announced Friday a plan to add oil back to the Strategic Petroleum Reserve (SPR) after a historically large release undertaken by the Biden administration.
During testimony on July 12, 2022, Stephen Ayres told the House select committee investigating the Jan. 6, 2021, attack on the Capitol about his life after that day. Ayres, who received two years probation in September after pleading guilty to disorderly and disruptive conduct in a restricted building or grounds, told the committee that he lost his job and sold his house since the attack, and he was angry that Former President Donald Trump was still spreading lies about fraud in the 2020 presidential election.
Americans waiting for stimulus checks from the federal government have faced a long period of disappointment. There have been no direct payments authorized to be made into people's bank accounts since the American Rescue Plan Act was signed into law shortly after President Biden took office in early 2021. Additional federal funds aren't likely to come any time soon due to lack of bipartisan support — although some lawmakers are trying to move forward with more help for parents.
Nearly half of big money managers don't believe the Fed will be able to stick a soft landing and worry that stagflation will be a bigger risk next year.
Fannie Mae expects a modest recession to begin in the first quarter of 2023, and 60% of the economists polled by Reuters think the U.S. economy will enter a recession sometime next year. Economists surveyed by Bloomberg think there's a 65% risk of a recession over the next 12 months.
Photo Illustration by Erin O'Flynn/The Daily Beast/Getty ImagesMore than two decades after he came to power, President Putin’s grip on the Russian people is finally starting to falter.The war in Ukraine has opened up a credibility gap, and for the first time many Russians no longer feel they can trust what their leader is saying to them. Combined with tough economic sanctions, funds being re-allocated to the war, and conscription drives across the country, the costs of this vainglorious conquest