Food Financial News

inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year. Consumer prices rose 4.83% in April from a year earlier, the Statistics Ministry said Monday, largely in line with the previous month’s figures and economists’ forecasts.

₹182.10 apiece on the BSE. The food delivery platform Zomato reported a consolidated net profit of ₹175 crore in the fourth quarter of FY24 as against a loss of ₹188 crore in the same period a year ago. The net profit grew 27% from ₹138 crore posted in the December quarter.

A protest against rising costs of food, fuel and utility bills has turned violent in Pakistani-controlled portion of Kashmir, leaving a police officer dead and dozens of people injured

The largest labor union in Nevada has ended a planned 48-hour strike meant to pressure Virgin Hotels Las Vegas to agree to a five-year contract on wages and benefits

delivery company Zomato on Monday reported a fourth straight quarter of net profit compared with a loss a year earlier, but its shares fell as the performance missed market expectations.

New Delhi: Food tech major Zomato on Monday said its subsidiary Zomato Payment Pvt Ltd (ZPPL) has decided to voluntarily surrender the certificate of authorisation it obtained from the Reserve Bank to operate as an online payment aggregator. ALSO READ: Zomato, its first full-year profit in pocket, turns focus on Blinkit "At Zomato, we do not see ourselves having a significant competitive advantage against the incumbents in the payments space and hence we don't foresee a business in payments space as commercially viable for us, at this stage.

Zomato has surrendered its payment aggregator licence and its application for securing a mobile wallet licence, the company said in a stock exchange filing on Monday.

shocked, well, don't be. A recent video posted on X by a netizen named Nebula World shows a cook from Chandigarh Dhaba in Chandigarh using diesel to fry parathas. He wrote, "True recipe for cancer (petrol diesel wala paratha) Where r we heading?" In the video, which has garnered 455.5k views as of yet and over 1.1 likes, a man wearing sunglasses can be seen putting diesel on the paratha he is preparing with the person making the video claiming that that his customers eat the diesel-made paratha with pleasure and it tastes like ‘kachori’- another Indian street food in high demand.

rice that is distributed free to the poor under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKY), two officials said. The proposal was seen as too expensive and labour intensivein the absence of sifters, graders and other machinery. Proposals on the table now includes increasing the allocation of rice under PMGKY, giving free food to employees of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), and reducing the price of rice under the open market sales scheme (OMSS).

Mint poll of 22 economists had estimated India's retail inflation to remain broadly unchanged at 4.87% in April. CPI inflation remained above the central bank’s target of 4% but has stayed within its tolerance range of 2-6% for the eighth consecutive month. Overall, food inflation was 8.70% in April, up from 8.52% in March, and 8.66% in February, due to a rise in the prices of cereals, meat and fish, and fruit.

Men in Black. A suited Will Smith was rapping to the movie’s eponymous title track, against a set propped with sci-fi elements, including a flying UFO and a gigantic alien face. This was Smith’s surprise performance as part of reggaeton star J.

macher tel literally translates to fish oil. Sometimes it also refers to the skin of the fish. But it usually means innards, which consist of some fat, liver, intestines and gallbladder of the fish.

3 key reasons why RBI will not cut rates this year: Elara Capital In its last policy meeting in April, RBI Governor Shaktikanta Das highlighted concerns over food price uncertainties even as he expressed optimism that a record rabi wheat production would help ease price pressure. Moreover, the prospects of a normal monsoon are expected to augur well for the kharif season. Brokerage firm Nirmal Bang expects CPI inflation to come in at 4.91 per cent in April 2024.

Mint spoke to Saugata Gupta, MD & CEO, Marico Ltd, on the company’s plans to improve top-line in the coming quarters—after successive price cuts in its Saffola edible oil portfolio impacted revenues. The company has also announced investments to ramp up direct distribution in a move to reach more rural markets. It is working on expanding its food distribution.

Canada Post closed a loophole that people across Nunavut were using to stock their pantries with items shipped for free through Amazon Prime.A can of tomatoes costs $10 in Rankin Inlet, says the 42-year-old mother.But with a slight change to her postal code when purchasing through Amazon, Eecherk could get almost 10 cans sent to the hamlet on the northwestern side of Hudson Bay for the same cost.“Amazon provided the relief that we needed,” she said.Amazon’s paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.The vast territory has some of the highest food costs and rates of food insecurity in Canada.

monsoon season that begins in June. "A transition from El Niño to ENSO-neutral is likely in the next month. La Niña may develop in June-August (49% chance) or July-September (69% chance)," NOAA said.

Restaurants of all formats — from fine dining to casual dining and food aggregator platforms — saw a record number of diners on Mother's Day surpassing the bookings typically seen on New Year's Eve, Valentine's Day and even on regular Sundays,multiple restaurant owners told ET . EazyDiner, a table discovery, reservation, and payment platform that has over 15,000 restaurants listed on it, corroborated the trend. Kapil Chopra, founder, EazyDiner, said the bookings on its platform for May 12 were more than double of what it was last year-which was also a Sunday. The lunch and dinner bookings on the app were up 62% and 198%, respectively, he said, which pulled up the average occupancy across the restaurants to 92%. «Overall, it's an absolutely crazy day. It's 50% higher than New Year's Eve for us. It's a great day for Indians eating out in food and beverage,» Chopra told ET. The maximum growth this year is in Bengaluru, followed by Mumbai and Delhi, he said.

US inflation probably moderated in April for the first time in six months, offering a ray of hope that price pressures will start to ease again after a string of upside surprises. The core consumer price index (CPI), which excludes food and fuel, is seen rising 0.3% from a month earlier after 0.4% advances throughout the first quarter. The Bureau of Labor Statistics will issue its CPI report on Wednesday. Compared with April 2023, the core CPI is projected to rise 3.6%. While that annual increase would be the smallest in three years, it's still running too fast to placate Federal Reserve policymakers, who want evidence inflation is slowing consistently as they debate interest-rate cuts.

seasonal rains in Afghanistan have left over 300 people dead and thousands of houses destroyed, most of them in the northern province of Baghlan, which bore the brunt of the deluges Friday, the United Nations food agency estimated. Among at least 240 people dead are 51 children, according to UNICEF, one of several global aid groups that are sending relief teams, medicines, blankets and other supplies. The World Health Organization said it delivered 7 tons of medicines and emergency kits.

Nerul, a village close to the mouth of the Mandovi River in Goa, it’s time to celebrate clams. The sands of the riverbed and shore are ideal places to find tisriyo, small but very tasty shellfish. A village tradition has grown of gathering, cleaning, and cooking tisriyo on this day. It isn’t a religious event, though the local priest is happy to give blessings. This is excellent, because shellfish should be celebrated in India far more than they are. North Kerala loves mussels and Indian oysters are now found in upmarket restaurants, but given the length of our coastline, we hardly seem to do justice to shellfish. They tend to have an unclean reputation, perhaps because they are found in mud and are often filled with it, or because some species can occasionally be toxic, depending on the waters from which they have been filtering food. Shellfish have often been left to marginalised communities, as Dalit writer Urmila Pawar recalls in her memoir 'Aaydan: The Weave of My Life'. She writes of how women from her community would forage along coasts for oysters, make a small fire and place the shells on it, eating them as they opened. Foragers like this would have known the seasons when they were safe to eat and how to leave the smallest ones, so they could grow and reproduce.