Lifestyle | Your Money

November 05, 2013

Food Basket is More Expensive

The cost of the food basket has increased steadily since the beginning of the year. Several products have increased, including non-alcoholic beverages, vegetables, meat, rice, dried beans, milk and the bus ticket and the TV license fee.

The family budget has actually shrunk as a trickle when we take into account the evolution of prices over the last ten months of the year, including commodities, fuel, carbonated drinks or alcoholic. If last year, a family of four spent about Rs 5600 on commodities, it must spend to date Rs 6400 for these products. These include milk, pasta, rice, flour, butter, canned foods or cereals, regardless of electricity or water bills, bus ticket, the daily bread or gas appliances. Taking into account all this, the family's expenses exceed Rs 7000.

Possible increase in basmati rice

This increase in spending is actually just the tip of the iceberg, as an overview of the evolution of prices in recent months is revealing. Despite the many different promotions offered by supermarkets and hypermarkets, the cost of the food basket has increased significantly. The price of milk has about a 10% increase. The dry grains also climbed before being lowered.

Basmati rice has increased by 20% in recent times. Importers believe that the price of basmati climb in the coming months because if the price of 'long grain white rice' increases, the basmati follow. Traditionally, there is a difference of 30-35% between basmati and 'long grain'. Some even think that importing rice prices will not drop soon as it currently sells for $ 1,600 per tonne against $ 1,000 a tonne last year. According to them, it is essential to wait until the next harvest is expected in December before the fate of basmati. The government is trying somehow to relieve consumers, but as the country imports most of the products, these consumers will inevitably suffer the high cost of the products. 

 

Text by Le Matinal
 

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