Record global food prices benefit Indian farmers, but stoke inflation fears
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India, March 1 -- Global food prices rose for an eighth consecutive month in January to their highest level since July 2014, latest data from the Food and Agriculture Organisation (FAO)'s food price index showed, which is proving to be a boon for farmers but could also stoke domestic inflation. Higher food prices could complicate the country's nascent economic recovery, analysts said.
Higher international prices of food commodities are spurring India's food exports, but they will make India's food imports costlier. The country, for instance, relies on imports to meet 70-74% of its vegetable or edible oils requirement.
The FAO's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and s...
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