Food Financial News

SLCM) Group has launched physical “Krishi Quality Janch Kendra” an AI ML-empowered solution that is set to facilitate food grain quality checks (QC) in India. Aimed at helping farmers, traders, FPOs as well as corporate entities involved in QC of food grain, a total of 31 centres have been opened in the initial phase of the initiative across Delhi and Madhya Pradesh. SLCM intends to establish at least 600 more Krishi Quality Janch Kendra Centre’s across different parts of the country till the end of February 2024.

Despite increasing expectations that interest rates have peaked, many Canadian businesses experienced weaker growth in the fourth quarter and blamed factors including their customers’ financial situations and the impacts of higher rates and inflation, according to the Bank of Canada’s latest business outlook survey.

Passengers of a Goa Delhi Indigo flight which was ... morePassengers of a Goa Delhi Indigo flight which was delayed by over 10 hours were seen eating their dinner on the Mumbai airport tarmac.

Inflation in India has seen many twists and turns in the past four years, but the signs of relief are getting stronger. Both retail and wholesale inflation inched up in December 2023—to 5.69% and 0.73%, respectively—but the uptick was mainly on account of base effect. Strip that off, and retail inflation would have slid to 5.2% and wholesale prices would have recorded a 0.6% deflation, back-of-the-envelope calculations show.

Extreme cold has swept across Canada, bringing heavy snowfall and strong winds and breaking temperature records in Alberta, British Columbia, Saskatchewan and the Northwest Territories.Those temperatures, the Red Cross warns, can bring frostbite and hypothermia — even death.“As Canadians, no matter where we are, whether it’s Winnipeg or up north or Victoria, we all experience some level of winter,” said Jason Small, Canadian Red Cross spokesperson.“And we need to be prepared for that.”The advice comes as Alberta has issued multiple alerts to the public over the last three days to immediately conserve electricity as its provincial power grid strains to keep up with demands amid the frigid temperatures.Parts of B.C. and southern Ontario are also facing deep freezes.Searches for terms like “extreme cold” have spiked on Google among Canadian users and are projected to keep climbing.

Cost of Living LIVE Updates January 16: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Mint on 29 December reported that the union government was considering a 50% duty on the export of molasses to augment supplies for meeting India's target for cleaner and more efficient ethanol-blended petrol. The government aims to achieve its E20 (20% ethanol blended petrol) target by 2025-26 from its present 12%. India is the world’s largest molasses exporter and contributes about 25% to global trade.

₹30,000 for Novotel Goa resorts, which are not even on the beach. In contrast, we paid ₹9,000 for a hotel on the beach in Phuket that had a private pool and the rooms were almost three times bigger. Similarly, in Vietnam, we paid ₹6,000 for Movenpick Camranh, one of the best resorts I have ever been to," said Rai.

A pair of surveys released from the Bank of Canada on Monday show many firms’ price plans are “slowly returning to normal” after a period of elevated inflation, thanks in part to a slowdown in consumer spending and easing in the labour market.

Wow! Momo Foods has raised ₹350 crore from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. This is the company's biggest fund raise and comes amid robust double-digit growth in overall food services, in addition to low price points and popularity of momos as a snack in India. The investment will be made through both primary infusion and secondary purchase from early-stage investors, Indian Angel Network and Lighthouse Funds.

IndiGo aircraft at the Mumbai airport, sat on the tarmac, and some were also seen having food there as soon as their diverted Goa-Delhi flight landed after a long delay on Sunday. A short video clipping of the incident was shared on social media, following which Mumbai airport claimed that the airport operators in coordination with the Quick Response Team (QRT) of the CISF «cordoned off the passengers into a safety zone». An IndiGo spokesperson said the airline was looking into the incident and «sincerely apologised» to its customers. The flight that took off from Goa could not land at the Delhi airport due to dense fog, and was diverted to the Mumbai airport on Sunday. A significant number of flights were impacted at the Delhi airport on Sunday due to dense fog and low visibility conditions. «IndiGo flight 6E 2195 (Goa to Delhi) was diverted due to unfavourable weather conditions. As the flight was already significantly delayed in Goa, passengers were irate and rushed out of the aircraft as soon as the step ladder was connected,» a Mumbai airport spokesperson said in a statement. According to the spokesperson, the airport operator in coordination with CISF QRT cordoned off the passengers into a safety zone as «passengers refused to get into the airline coach and proceed to the terminal building». Further, the spokesperson said the passengers were kept under the strict watch of the airline authorities and security until further actions were taken. In a statement, an IndiGo spokesperson said the flight was diverted to Mumbai due to low visibility conditions in Delhi. «We sincerely apologise to our customers and are currently looking into the incident.

Enforcement Directorate (ED) on Monday conducted raids in several locations in Kolkata, West Bengal, linked to a recently arrested Trinamool leader Shankar Adhya in connection with the ration distribution case. The four places where the ED conducted search operations included the Salt Lake office of Adhya's Chartered Accountant, who reportedly used to manage the Trinamool leader's accounts. Adhya was arrested on January 5 by the agency that is probing money trail of various companies associated with Adhya and entities dealing in foreign exchange and transfers into foreign accounts, people in the know said.

₹450 crore currently, as it aims to tap into the growing demand for pre-cooked food items across international and domestic markets. Currently, 98% of the Mumbai-based company’s revenues come from overseas sales, but it is ramping up its domestic business with the newly-launched pickle and cooking pastes brand Soul, which it plans to grow to ₹100 crore in the next three years, its chairman and managing director Bimal Thakkar told Mint in an interview. The company will invest ₹100 crore over the next two years to expand its manufacturing capacity, while eyeing acquisitions for inorganic growth.

Maruti Suzuki, Hyundai Motor, Tata Motors and Renault India posted the highest-ever share of sales from rural markets in calendar year 2023 amid improved consumer sentiments and better liquidity among the rural rich. However, inflationary pressures weighed on rural demand for fast-moving consumer goods and consumer durables. While the share of rural sales at Maruti Suzuki, the country’s top carmaker, rose to 45% in CY2023, it stood at 19.1% at Hyundai and 40% each at Tata Motors and Renault India respectively. Senior industry executives ET spoke to said even in the rural markets, the gap in incomes between varied sets of consumers has been triggering demand more at the higher end of the market, which is expected to eventually percolate down and make broad based the recovery over the next few quarters. “Rural markets outpaced urban centres (at Maruti Suzuki) last year growing by 10.4%.

Japanese brokerage firm reiterated its earlier view of rate cuts being expected from August onwards, and pegged the quantum of cuts at 1 percentage point. "We expect 1 per cent of rate cuts cumulatively starting August, with a change of stance to 'neutral' in Q2, with risks skewed towards earlier easing," PTI quoted Nomura analysts as saying.

By Chijioke Ohuocha

The 10-year benchmark bond yield was at 7.1350% as of 10:00 a.m. IST, following its previous close of 7.1791%.

Cost of Living LIVE Updates January 15: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

India’s latest inflation and industrial production numbers released last week have been a mild let-down. Retail inflation in December climbed to a four-month high of nearly 5.7% on-year, up from almost 5.6% in November, while industrial output growth slumped to an eight-month low of 2.4% on-year in November from 11.7% in October.

You might not have noticed it, but it is extremely difficult to find a restaurant in India that can seat a dozen people around a single round table. If you have more than six diners, you have to ask the restaurant to join two or more tables to create a long rectangle. While this allows several colleagues or family members to technically sit at the same table, conversation and sharing of food is limited to groups of four or five people sitting next to each other.

BERLIN (Reuters) — Farmers and their tractors rumbled towards Berlin from every corner of Germany on Sunday ahead of a giant protest demanding a rethink of plans to tax farmers more.