Retail prices of kitchen staples products are projected to remain stable during the peak festival season due to the rigorous measures implemented by the government, as indicated by industry experts.
While food inflation had previously surged to high levels, it has recently begun to subside following a series of government actions. These measures include imposing export restrictions, implementing stock holding limits, and releasing wheat, rice, chana, and onions into the local market to bolster supplies and stabilize prices.
The demand for wheat flour, gram flour, dairy products, cooking oil, and sugar typically reaches its zenith during the festival season, commencing with Onam and extending through to Christmas, with a peak during Diwali.
“No spike in the prices of sugar is expected on account of shortages,” Shree Renuka Sugars executive director Ravi Gupta said, adding that the sweetener from the new sugar season will reach the market before Diwali, he said.
“After a sharp increase last year, prices of milk have stabilised. We also don’t expect to see any spike in the coming quarters despite the increase in consumption of dairy products such as ghee, on account of festivals,” said Akshali Shah, executive director, Parag Milk Foods.
During September, the Food Secretary, Sanjeev Chopra, mentioned that the government did not anticipate a significant surge in the prices of any food item throughout the festival season.
