Food Financial News

India's per capita net national income (NNI) for 2022-23 stands at Rs 1.7 lakh. Despite this impressive growth, the perceived increase in wealth is not universally experienced due to persistent disparities in wealth distribution. Workforce Struggles “Despite growing towards lower levels of poverty, India is alarmingly moving towards a struggling working class at risk of falling into poverty. The latest joint report of ILO and IHD indicated that between 2012-2022, the average monthly real earnings of regular salaried workers declined by 1 percent each year, pointing towards poor-quality employment,” Chandra Shekhar, Partner, Posterity Consulting said. Consumption Patterns and Inflation As per a TOI report, the consumption pattern of India is similar to that of the US in the 1960s. The share of India’s domestic consumption to GDP was around 60% in 2022. As per the report, the Indian population spent nearly 30 percent of their income on food, followed by transportation, housing, and then on clothing, education, health, etc. In comparison, the US spends nearly 50 percent of their income on services, followed by healthcare, housing, and then food.

Tenders for enhancing grain storage capacity are awarded through a transparent, online process that many states governed by INDIA bloc parties have also adopted, Union Food and Public Distribution Minister Prahlad Joshi said on Wednesday. The issues of food storage capacity increase and privatisation of Food Corporation of India (FCI) godowns were addressed in the Lok Sabha on Wednesday, with Joshi responding to questions from Trinamool Congress (TMC) MP Sudip Bandyopadhyay. Bandyopadhyay raised concerns about the sufficiency of the storage capacity at FCI godowns and the involvement of a private entity in the sector.

policy decision on Thursday even though most expect he’ll keep interest rates unchanged again. Global markets have been roiled in recent weeks by central bank action, with the Bank of England cutting interest rates last week, the Bank of Japan hiking, and the Federal Reserve preparing to ease amid recession fears. That may give the Reserve Bank of India reason to stay cautious after keeping rates steady for 18 months already. But there is a chance the RBI may signal a pivot is coming months. Thursday will be the last rate decision of the six-member monetary policy committee before its current four-year term expires in October. Some economists expect the MPC may want to go out with a bang by possibly setting the stage for policy easing.

Mint's queries to Nataraj and Thakran did not receive a response till press time. In the past, companies such as Mamaearth, Dabur India and Mondelez, have sent legal notices to influencers to take posts that were critical of their products. Queries sent to Mamaearth, Dabur and Mondelez went unanswered till press time.

The Canadian economy is in some serious trouble if it stays on its current trajectory, as it has had the worst growth out of 50 developed economies since 2019.

shares up 5% on Tuesday. With more people returning to offices and stepping out of their homes, ride-sharing demand has got a boost in the past several months, benefiting companies such as Uber and rival Lyft.

Bajaj Consumer Care Ltd.(up 5.38%), Patanjali Foods Ltd.(up 4.42%), Jyothy Labs Ltd.(up 3.85%), Nakoda Group Of Industries Ltd.(up 3.57%), Vadilal Industries Ltd.(up 2.70%), Tasty Bite Eatables Ltd.(up 2.42%), Sheetal Cool Products Ltd.(up 2.13%), Emami Ltd.(up 1.97%), Umang Dairies Ltd.(up 1.93%) and Britannia Industries Ltd.(up 1.90%) were among the top gainers.

food services group K Hospitality Corp plans to list the business on Indian stock exchanges with a Rs 2,500-3,000 crore initial public offering, said people aware of the development. The operator of restaurants and cafes, food courts, and airports stores with brands such as Copper Chimney, Bombay Brasserie, Cafeccino, and The Irish House has hired Kotak Mahindra Capital and ICICI Securities to manage the IPO process, they said.

Marico Ltd said during the company’s post-earnings call on Monday. The Parachute hair oil maker on Monday reported a 4% increase in domestic volumes, as consolidated revenue rose 7% year-on-year. For the quarter ended 31 March, the company had alluded to a “visible uptick" in rural demand albeit towards the end of the quarter.

Paris Olympics 2024 saw Crouser give some of his best action left in him, the credit for which he partly gives to the massive daily diet he consumes in order to stay agile and strong during such tough competitions.

The hospitality workers’ union UNITE HERE has endorsed Vice President Kamala Harris for president

on food-delivery platforms. Six years since, she is rolling in dough. The 33-year-old entrepreneur who lives with her husband and two kids says her family was able to purchase a house and upgrade from a two-wheeler to a car after signing up with a food-delivery platform which helped boost sales to ₹4 lakh per month.

Stocks that traded heavily or had substantial price changes on Monday:

Kerala government on Monday said the families of the tribal communities of Wayanad, which was recently hit by devastating landslides on July 30, were safe and were staying in relief camps arranged by the SC/ST department. Currently, 47 tribal community members, including children, are in various relief camps under the state government. All the tribal families in the region have survived the landslides that hit Mundakkai and Chooralmala regions of Wayanad, officials said. «The four families from Erattukund hamlet will be rehabilitated. Even though the officials tried to take them to camps near Meppadi, the families expressed interest in remaining at Attamala camp inside the forest,» a state government release said.

Two violent incidents occurred at separate restaurants in Chicago, Illinois over the weekend. At a McDonald's, three people were injured when an offender was refused free food. Credit: FOX 32 Chicago

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Marico, which owns the Saffola and Parachute packaged oil brands, reported a slightly bigger-than-expected increase in first-quarter profit on Monday, helped by steady demand and said its earnings would grow this year. The company's consolidated net profit rose 8.7% to 4.64 billion rupees ($55.4 million) in the April-June quarter, just above analysts' average estimate of 4.63 billion rupees, according to LSEG data.

Nakoda Group Of Industries Ltd.(up 2.13%), Marico Ltd.(up 1.48%), Dabur India Ltd.(up 1.03%), Hindustan Unilever Ltd.(up 0.87%), Euro India Fresh Foods Ltd.(up 0.72%), Nestle India Ltd.(up 0.64%), Honasa Consumer Ltd.(up 0.36%), Godrej Consumer Products Ltd.(up 0.21%) and Colgate-Palmolive(India)Ltd.(up 0.09%) stood among the top gainers.

inflation minus the food and beverages category—was both lower and less volatile than overall headline inflation. By April 2023, non-food inflation had fallen within the Reserve Bank of India's upper tolerance band of 6%, and by September 2023, it was slightly below the 4% target. Headline inflation, on the other hand, has remained around 5% since early 2024.

Varun Beverages Ltd. traded 3.47 per cent down in Monday's trade at 12:22PM (IST). Around 243,364 shares changed hands on the counter. The counter opened at Rs 1521.0 and touched an intraday high and low of Rs 1549.5 and Rs 1500.0, respectively, in the session so far. The stock of Varun Beverages Ltd. quoted a 52-week high of Rs 1707.1 and a 52-week low of Rs 802.0.

A video from Tamil Nadu's landslide-affected regions has gone viral, showing drones airdropping food for stranded dogs. According to the report, the dogs were trapped near the Mettur dam. The pack of seven dogs had been stuck in the area for three days without food, the report added.