Citizens' Issues
Vegetable price shocks have become too frequent to be ignored

According to Nomura, vegetable prices continue to climb during July and these one-off price shocks have become too frequent to be ignored

 

In India, retail vegetable prices, which were largely contained until June, have rocketed during July. Vegetable prices rose 37% month-on-month in July 2014 compared with an average of 20% during FY11 to FY13. According to Nomura, these one-off price shocks have become too frequent to be ignored.

 

"This is not demand-pull inflation, so the government needs to take measures to improve the vegetable supply chain. If such supply shocks become too frequent, as appears to be the case, then they can start to have a lasting effect on inflation expectations," Nomura said in a research note.

 

Nomura said it believes that higher vegetable prices have not yet had any spillover effect on other food or core prices, i.e. this is not a broad-based rise. However, it said it expect higher vegetable prices to push headline CPI inflation to 8.1% year-on-year (y-o-y) in July (due 12th August) compared with 7.3% in June.

 

"This uptick (in average vegetable prices) has continued during the first week of August as well. The rise in vegetable prices this fiscal year (April to date) is starting to outpace last year's acceleration, which was a 'one-off' rise. If the current pace continues, then the anticipated moderation in CPI inflation in second half of 2014 on account of the favourable base effect may disappear," Nomura added.

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COMMENTS

Mahesh S Bhatt

2 years ago

God knows whether its political or real but the fact is after every elections onions prices fall latest Ask Sheila Dikshit Delhi.

I feel our political class needs to be seriously punished for the basic failures of food/education/healthcare/security violations en-masse.

God is punishing ( Sharad Pawar fighting Cancer along with Sonia who is also ill) but how much how long.

Today from Onion Potatoes to Tomatoes/Chilly/Cauli Flower/Coriander etc all rise unreasonbly & fall without reason.

Jignesh's MCX fraud of Rs 5400 crore should be paid back to honest tax payers when recovered as Futures/Options are fueling price rises by speculation/manipulations.

Globally too Oil/Gold are dangerously speculated.easy money from US is adding fuel to fire.Challenging times Mahesh

Java

2 years ago

As a nation we specialise in shooting ourselves in the foot, quite needlessly. Just two states, Himachal and Uttarakhand have enough potential to flood the Indian market with top quality vegetables leaving a surplus for export. But farmers there are abandoning agriculture because of monkeys and wild pigs, which are destroying what ever crops they raise. The government of India's Wild Life Act protects these animals, although they are vermins that are over-running the hills. The first step is to declare the animals vermin and start getting rid of them. Second is to compensate the farmers for losses due to this faulty policy that run into thousands of crores each year in HP and Utt.

REPLY

shadi katyal

In Reply to Java 2 years ago

We are known for shooting ourselves in name of religion. Show me a national capital even in Africa where monkeys, pigs and cows roam openly in streets. If we have become a laughing stock of the world so what?
Do you think this Govt will change any such Laws? They have more on the plate and let the nation suffer till next elections

murlidar

2 years ago

It is the greedy middlemen who unnecessarily profiteer that need to be eliminated.

shadi katyal

2 years ago

Since the nation lacks cold storage facilities, there is spoilage and thus nation doesnot enjoy the full benefits.
One has to count growth of population as one major factor.
How much recent fare raise and petrol prices have effected such price.
We should not depend on GOI as no Govt can control prices of such perishable products and voters are misled and fooled by our leaders to keep themselves=s in power

Don’t Colour Me Red!

Prerana is a path-breaking initiative to show the red light to Mumbai’s red-light areas, says Queency Raichada

 

‘Prerana’ means inspiration in Hindi and Sanskrit. It is also the name of a Mumbai-based non-profit organisation which works against human trafficking.


Children born in the red-light areas get trapped into a vicious circle; they are eventually forced into prostitution, generation after generation. This cycle needs to be broken, to give innocent young lives the opportunity to be masters of their own destiny. Prerana provides exactly this opportunity to children of prostitutes to break away from a demeaning profession and live life on their own terms.


Founded in 1986 by  Pravin and Priti Patkar, Prerana celebrates 28 years of fighting injustice and protecting rights of women/children who are victims, or potential victims, of prostitution. “Human trafficking is one of the biggest criminal activities and India is one of the main destinations for this,” says Priti Patkar who chose to join the fight to put an end commercial sexual exploitation and trafficking (CSE&T) many decades ago.


She and her husband began with setting up a night care centre at Kamathipura, a notoriously squalid red-light area of Mumbai. The idea was to provide a safe ‘home away from home’ environment to vulnerable children of prostitutes. The initiative sought to ensure that the second generation is not exposed to the exploitation of their mothers. It was a revolutionary idea then and has achieved success and recognition.


A year after it was set up, Prerana conceptualised an institutional placement programme (IPP), to provide long-term residential care and development of the children of sex workers.


Former US President James A Garfield once said, “Next in importance to freedom and justice is popular education, without which neither freedom nor justice can be permanently maintained.” Identifying with this belief, Prerana initiated an education support programme (ESP) for the children living in red-light areas to ensure social mainstreaming. But merely educating actual/potential victims was not enough. Prerana wanted to be involved in stopping exploitation, so it started an anti-trafficking centre (ATC) and went on to set up the Naunihal Girl’s Shelter for children in dire need of protection and rehabilitation. Finally, its post-rescue operation (PRO) initiative provides professional intervention for rescued victims of sexual exploitation. This includes emergency aid, legal help and, later, counselling, social integration and livelihood opportunities for those seeking to rebuild their lives.


Prerana partners with other NGOs and corporates and receives monetary and non-monetary assistance for its work. Johnson & Johnson helps Prerana with some of its activities. The Blue Star Foundation provides health insurance for up to 200 children. Goldman Sachs helps organise team work activities, and so on. ADM Capital Foundation is an important NGO partner with which Prerana has a joint initiative called ‘Aarambh’ which addresses issues related to sexual exploitation of children from multiple perspectives.


Over the years, Prerana has expanded its reach to over 10,000 children. It has shifted 1,500 children from the red-light areas to welfare institutions. It shelters 250 children on any given night at its three night care centres and covers 1,800 children through a comprehensive educational support programme.


Good work never goes un-noticed and Prerana has received many awards from organisations like UNAIDS and The International STAR Impact Award. It is also a source of knowledge for several national and international organisations, such as UNICEF, UNDP, UNODC, Maharashtra State Commission for Women, Asian Development Bank, and the state and Union government.


Prerana’s work requires a steady supply of caring volunteers and funds. You can help Prerana by donating or joining its mission to stop exploitation. “If you want to see the change, be a part of it,” says Ms Patkar.


Donations to Prerana are tax-exempt under Section 80-G.

Prerana

Khetwadi Municipal School (Dagdishala) Behind Alankar Theatre

1st Lane, Khetwadi, Grant Road (East), Mumbai 400 004

Phone: +91 22 2387 7637

Email: [email protected]

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Stock Manipulation: PMC Fincorp

Over the past year, the stock price of PMC Fincorp shot up by a whopping 1122% or  12 times

 

Earlier known as Priti Mercantile Company, the company changed its name to PMC Fincorp on 8 May 2014 and has its corporate office in Kanpur (Uttar Pradesh). PMC Fincorp’s annual report for FY12-13 states that the company is engaged in trading in shares, provides financial services and undertakes investment activities. PMC claims to offer loans against property, personal loans, inter-corporate deposit, etc. Over the past four quarters (September 2013 to June 2014), PMC has reported total revenue of just Rs15.45 crore and net profit of Rs3.72 core. Its market-cap? An astounding Rs3,500 crore! Over the past year, the stock price of this company shot up by a whopping 1122%, or 12 times, to Rs700.55 as on 28 July 2014 from Rs57.31 as on 19 March 2013. The stock price is over 900 times the earnings (past four quarters) per share. The high valuation does not seem to deter ‘investors’—whoever they are. Over the past year, the trading turnover of the stock has averaged Rs1.31 crore per day with an average of around 350 trades a day. As expected, this rampant case of trading manipulation remains unnoticed by the regulators.

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COMMENTS

Madhur Aggarwal

2 years ago

Plz follow this story
- How such kind of malpractises
are allowed to breed and thrive in
an economic system.
There must be some lacuna in Indias capital market
which has been used to full effect by such promoters.

Apathy of India Regulators

Suiketu Shah

2 years ago

Great ml covers such stocks to stay away from.One such stock which fooled public was fake herbal cosmetics maker Amar remedies

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