Higher sugar prices impact food products industry
Overall commodity prices, especially sugar prices, have witnessed a correction of about 10% during the past few days. The food products industry, however, said it may not be able to bear the cost pressures despite minor corrections in commodity prices and would have to increase food product prices in the near future.
 
“Everyone in the food business is contemplating the situation as commodity prices do not seem to come down,” said Pankaj Chaturvedi, executive director, Graviss Food Solutions, the exclusive franchise of Baskin Robbins ice-creams.
 
Charturvedi said the global slowdown and higher commodities prices, especially sugar prices, are affecting margins by 2%-3%, which his company has to bear.
 
Other food product companies are also finding it difficult to survive due to cost pressures and may be forced to hike prices in the near future, most possibly after Diwali, said a market source.
 
Baskin Robbins has also tied up with Eros International PLC, for their upcoming movie Aladin and is launching three new flavours based on the movie theme. The new flavours titled “Choc ‘aladin”, “Princess’Delite” and “Ringmaster’s Whip” are based on the characters from the movie.
 
The ice-cream maker, which has about 370 stores across 65 cities in India, plans to add another 100 stores in the current financial year, Chaturvedi added.
–Pallabika Ganguly [email protected]
 

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Onion prices to stay firm during festivals
Onion prices at Lasalgaon near Nasik, the largest market in India for this commodity, have escalated by more than threefold due to damage of onion crop in Andhra Pradesh and Karnataka following heavy rains.
 
According to Agmarknet, an agriculture market information network set up by the National Informatics Centre, onion of the famous Nasik variety was quoted at Rs1,650-Rs2,000 per quintal on Tuesday. Only last week the commodity was sold at just Rs438 per quintal at Lasalgaon market.
 
Today, onion was quoted at an average price of Rs1,380 per quintal at the Lasalgaon market in Maharashtra. Onion was priced between Rs1,250 to Rs1,500 per quintal at Vashi's APMC, the main agricultural market for Mumbai.
 
According to market sources, onion prices would stay high till December, following the damage to the crop due to heavy rains at many places, including Maharashtra. Onion prices in the wholesale market at Lasalgaon would remain above Rs1,000 per quintal and prices would correct only after the arrival of new crop by end-November, said a trader from Lasalgaon.   
 
In our country onion crises—where food prices and especially onion prices rise significantly due to, for instance, poor harvests—have had been a frequent and contentious political topic. Many elections in India have been won and lost due to higher prices of this essential commodity.
 
With ongoing Assembly elections in Maharashtra and Haryana, it would be interesting to watch whether the politicos would manage to control onion prices or not.
-Yogesh Sapkale with Aditya Kshirsagar [email protected]
 

 

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COMMENTS

Durgesh Shirsath

6 years ago

rates of onion should be greater than 4000 per qut.
because 80-90% of the onion farms are get destroy due to unexpected rainfall.and remaining 10-20% of onion farms ore on the way of damage.therefore for recovering atleast investment of that farmer,price of onion should be of 4000/qut

Many stocks still down 70-80% below their peak despite huge market rally

The Sensex is yet to climb the peak of 21,000 and yet several stocks are trading significantly higher than previous highs. Some, on the other hand, are still down miserably

While the Sensex has still quite a bit to travel before it retakes its all-time high of 21,000, some stocks have already found their way to new peaks and even higher. The 30-share BSE Sensex is trying to retake its previous high at a breakneck speed. On October 1, it hit 17,195, an astounding 123% surge from its lowest point in October 2008 when it hit 7,697, though it is still 23% below its all-time high. Several stocks which had hit all-time highs at a time when the Sensex was soaring at 21,000 levels or even earlier, have since created new highs. Take Hero Honda, for instance. It had hit an all-time high in March 2006 when it touched Rs888. As on 5 October 2009, the stock was trading at Rs1,644, up a phenomenal 85% over its previous high and 193% above its low of Rs561 it hit in January 2008. Maruti Suzuki India is currently trading 35% above its October 2007 high of Rs1,188. Similarly, Nestle India and Sesa Goa, which had created highs in May 2008, are up 30% and 24% respectively as on 5 October 2009. Jindal Steel & Power Ltd, Punjab National Bank and Asian Paints have also beaten previous highs and reached new lifetime highs.
 
While these stocks have gone on to reach new glorious peaks, there are others which are trading at a considerable discount to their earlier peaks. Indiabulls Financial Services finds itself trading at 80% below its January 2008 high of Rs913. Suzlon Energy (-78%) and Unitech (-79%) are also at a significantly lower level than their January 2008 highs even as they jumped manifold from their depressed levels earlier this year. Stocks like MTNL, Aban Offshore and Glenmark Pharmaceuticals are down 73%, 69% and 68% respectively.
– Sanket Dhanorkar 
 

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COMMENTS

Raju

5 years ago

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ErSS Hari

6 years ago

public is becoming wise market makers who daily buy and sell lacs of shares reported as bulk deals are over.they made fool of public in bag films then ramanewsprint then sel mfg geminicom cranessoftware etc few firms are notorious for these type of shady deals seems they do in consultation with promoters..kindly publish a detailed story about modus operandy by these looters.sebi does not read deals squared up same day just to trap innocent investors.looks tv jounalists are on their payroll..JMP sec seem to be the specialist.

Er SS Hari

6 years ago

there is no retail participation as their pockets are empty since 2008.Traders are beaten by biggies due to algorithm trading who depend more on arbitrage and discount strategies rather than following technical charts.fundamentals evaluation based strategies are out of fashion.when every body turns to be a short term profiter long term investors will get disgusted and leave the stage for bonds and fixed income instruments.market is passing through difficult times as now small investor has become clever and you cannot pass on the risks to them.major contribution to inject such cleverness with small investors is by your magazine and manipulators are angry with writings in your magazine.

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