100-Word Take | Depressed global food prices not a good sign for India's farm economy

The Brand Footprint Report 2020 from the from worldpanel division of Kantar has listed the most popular brands in India. The study ranked the brands on the basis of consumer reach points (CRP) recorded in a year. Over two-third of the top 50 brands are Indian origin brands (36) while global stands at 14. (Image: Reuters)

Farm prices are under pressure worldwide, not just in India. The Food and Agriculture Organisation’s (FAO) food price index, an international benchmark, slipped in November too. It fell by 8.5 percent over a year ago and by 1.3 percent sequentially. The index is at its lowest since May 2016 and edible oil prices are at a 12-year low. Cereals, vegetable oils, dairy and meat prices fell in November over October, while sugar prices rose. Falls were chiefly due to supply-led reasons while sugar rose on lower output expectations. Restrictions on trade mean local prices don’t always track global ones closely but depressed global prices are no help either.