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New Delhi: The government has decided to permit the import of potatoes from Bhutan without any license up to June 30, 2022, as per a notification issued by the Ministry of Commerce and Industry.
The decision came after the retail price of potatoes crossed Rs 40 across India.
According to reports of SBI, retail inflation in potatoes surged from 6.8% in April this year to 11.1% in May. Moreover, at the wholesale level, potatoes price inflation has been falling for three months in a row till March this year.
According to an SBI research note, inflation in potatoes was one of the biggest contributors to the surge in food inflation in May when overall retail inflation quickened to a six-month high of 6.3 per cent beyond the upper tolerance threshold of the central bank’s inflation-targeting framework.
SBI’s group chief economic adviser Soumya Kanti Ghose said, “the increase in inflation in May has been persistent and across the board. Protein items, cereals and even vegetables have all witnessed an increase in prices.”
Moreover, items such as cabbage and small millets were the only other common food items to record higher inflation in May on a year-on-year basis, though pickles, grapes, honey and garlic, among saw sharper spikes than potatoes in May in comparison to their prevailing price levels in April.
Inputs: The Hindu