Unseasonal rain, crop loss could keep India's food inflation high
Imports are not an option because of high prices overseas after the war in Ukraine
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Imports are not an option because of high prices overseas after the war in Ukraine
Economists say annual headline inflation will likely start easing from September's 7.41% peak because of a jump in the index in corresponding months last year, but price pressures on grains, vegetable and milk will persist.
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The Black Sea region accounts for 60% of world sunoil output and 76% of exports, and India is the top global edible oil importer.
About 380,000 tonnes of sunflower oil shipments from the Black sea region to India are stuck at ports and with producers, and new purchases have stalled after ports suspended operations following Russia's invasion of Ukraine, four dealers told Reuters.