Business Daily from THE HINDU group of publications
Wednesday, Oct 14, 2009
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Business Daily from THE HINDU group of publications Wednesday, Oct 14, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Foods & Food Processing Industry & Economy - Economy Sugar, milk powder weigh heavily on ‘food products’ output 
Our Bureau New Delhi, Oct. 13 Amidst cheers over industrial growth hitting a 22-month high of 10.4 per cent in August, here is some dampening news. The ‘food products’ index, which accounts for a 9.08 per cent weight in the general Index of Industrial Production (IIP), fell 9.6 per cent in the same month. Much of this year-on-year decline is due to just two commodities — sugar and milk powder — which have large weights in the ‘food products’ index. Both have suffered huge dips in output (27 per cent and 36 per cent, respectively). While for sugar, the blame cannot be laid solely on drought — mills crush little cane in August – it has certainly been a factor in milk powder. With the monsoon’s failure severely impacting fodder availability, dairies were not able to procure sufficient milk to convert into powder. Also, with the export markets drying up, many private dairies went slow on procurement. High sugar and milk prices also hit user-industries such as chocolates and confectionaries; their output fell 9.6 per cent in August. Biscuits and other wheat-based products did not see any production decline because of a bumper harvest of the cereal that kept prices low. In fact, atta and maida output rose 16.4 per cent in August. In edible oils, production from domestic sources such as groundnut and rapeseed-mustard fell, while output of vanaspati (which is made mainly from imported palm oil) went up by 10.4 per cent. Industrial growth hits 22-month high in August IIP growth hits a gusher in June Rains may squeeze sugar supplies Sugar output seen dropping to 4-year low; prices surge More Stories on : Foods & Food Processing | Economy | Dairy & Dairy Products | Sugar
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