Category: Beyond

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Amul, Mother Dairy raise milk prices by ₹2

Amul and Mother Dairy have increased milk prices by ₹2 per litre across India, with the new rates coming into effect from today, May 14. The hike applies to several popular milk variants sold by both companies.

The companies said the revision was made because of rising production and operational costs. According to them, expenses related to cattle feed, transportation, packaging and milk procurement have increased in recent months.

Amul stated that the higher prices would help support dairy farmers, who are also facing increased costs in maintaining milk production. Mother Dairy said procurement prices paid to farmers have gone up steadily over the past year, making the revision necessary.

Following the increase, products such as full cream milk, toned milk and cow milk will now cost more in markets across the country. Retailers have already started selling milk at the revised prices.

The hike is expected to affect household spending as milk remains one of the most commonly used food items in Indian homes. It is widely used for beverages, cooking and children’s nutrition, making it an essential daily purchase for families.

There are also concerns that the increase in milk prices could eventually affect the cost of dairy products such as curd, paneer and sweets if input costs remain high.

This is Amul’s first nationwide milk price hike since 2025. Both companies said the revision was necessary to maintain supply stability and support the dairy supply chain, especially farmers and milk producers.

The rising inflation, fuel prices and supply chain costs continue to impact the dairy sector. The seasonal fluctuations in milk production also influence procurement and pricing decisions.

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Middle East tensions push up mango prices in London

The ongoing conflict in the Middle East is now being felt in an unexpected place, London’s mango markets.

Fruit sellers across the city say prices of popular South Asian mangoes have risen sharply this season because of disruptions linked to the regional conflict involving Iran. Importers are facing delays, higher transport costs and supply problems, making one of summer’s favourite fruits more expensive for customers.

Mangoes from countries such as India and Pakistan are highly popular in the UK, especially among South Asian communities. Every summer, fruit shops and supermarkets see strong demand for varieties known for their sweetness and flavour. But this year, traders say the situation has become difficult.

Many mango shipments arrive in the UK through air cargo routes connected to or passing near West Asia. With tensions rising in the region, airlines have changed routes, fuel prices have increased and freight costs have gone up significantly. Importers say this has made transporting fresh fruit slower and more expensive.

Shopkeepers in London say customers are shocked by the higher prices. Some premium mango varieties are now being sold at rates much higher than last year. In some stores, supplies are also running low because shipments are arriving late or in smaller quantities.

Since mangoes are highly perishable, even minor delays can affect quality and lead to losses for traders. Some sellers say they are struggling to maintain regular stock during what is usually the busiest mango season of the year.

Importers are now trying to find alternative transport routes, but they say costs remain high because of rising fuel prices and continued uncertainty in the region.

Despite the increase in prices, demand for mangoes has remained strong. For many families, especially within South Asian communities, mangoes are closely linked to summer traditions and seasonal celebrations.

Traders say the situation shows how international conflicts can affect everyday life far beyond the countries directly involved. A war thousands of kilometres away is now influencing food prices in local markets and changing shopping habits for consumers in London.

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India stops sugar exports till Sept 2026

India has suspended sugar exports until September 30, 2026, in a decisive move to address domestic supply concerns and stabilise prices in the local market.

The Directorate General of Foreign Trade (DGFT) has issued an order classifying raw, white, and refined sugar under the “prohibited” export category. This change effectively blocks new export contracts and halts fresh outbound shipments for the duration of the policy.

The government stated that the restriction is necessary to maintain adequate sugar availability within the country. Authorities have been monitoring the supply-demand balance closely amid signs of tightening output and rising domestic consumption.

While the ban is comprehensive, certain exemptions have been retained. Sugar consignments that have already been loaded, cleared through customs, or fall under specific previously approved arrangements may still be allowed to proceed. This ensures partial continuity of pre-existing trade commitments.

India, a major global sugar producer and exporter, plays a critical role in international sugar markets. As a result, any restriction on exports is expected to have both domestic and global implications.

On the domestic front, the move is expected to support price stability by improving supply availability in the short term. The government has acted amid concerns over lower sugar production in recent seasons, driven by irregular weather conditions, reduced cane yields, and production constraints.

In addition, increasing diversion of sugarcane towards ethanol production under the national blending programme has reduced the quantity of cane available for sugar manufacturing, further tightening supply.

Industry participants expect the policy to ease inflationary pressure in the sugar segment but warn that millers and exporters may face operational challenges due to halted overseas sales and disrupted contracts.

Globally, reduced Indian exports could tighten supply conditions, particularly in import-dependent markets, potentially supporting international sugar prices.

The government is expected to monitor production trends, domestic prices, and stock levels closely before reviewing the restriction.

Also Read: Gold hits ₹1,62,010, silver rises ₹3,10,100

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Gold hits ₹1,62,010, silver rises ₹3,10,100

Gold and silver prices in India surged sharply after the government increased import duties on precious metals. The move raised the total duty to about 15%, making imported gold and silver more expensive in the domestic market.

Following the change, gold prices jumped to around ₹1,62,010, while silver rose to about ₹3,10,100. The sharp increase reflects higher landed costs as India imports most of its gold and silver demand.

The duty hike is aimed at reducing imports and helping control pressure on the current account deficit. India is one of the world’s largest consumers of gold, and changes in import taxes quickly impact domestic prices.

Market experts said the rise in prices is mainly policy-driven rather than due to global demand changes. Jewellers reported weaker short-term buying as higher prices reduced retail demand, especially in the jewellery segment.

However, investment demand for gold is expected to remain steady as it is seen as a safe asset during uncertain global conditions. Silver demand is also expected to stay supported due to its industrial use in electronics and clean energy sectors.

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Rupee extends fall, hits all-time low at 95.80

The Indian rupee slipped to a fresh record intraday low near 95.80 against the US dollar on Thursday, extending its recent losing streak in the foreign exchange market. The currency touched the psychological level early in the session before seeing limited recovery, according to market participants.

The decline reflects sustained pressure from multiple global and domestic factors. Importer demand for US dollars remained strong, while foreign portfolio investor (FPI) outflows continued, adding to the strain on the rupee. Traders said these combined flows have consistently tilted the balance toward dollar demand.

Rising crude oil prices were another key driver. Brent crude continues to trade at elevated levels due to geopolitical tensions in West Asia, increasing India’s import bill and worsening the trade deficit outlook. Since India imports most of its oil, higher crude prices typically translate into higher demand for dollars, weakening the rupee.

A strong US dollar index in global markets has also weighed on emerging market currencies. Investors are shifting toward safer assets amid global uncertainty, which has further supported dollar strength.

Forex market analysts noted that the rupee has been under continuous downward pressure, repeatedly breaking previous lows over the past sessions. They said the current trend reflects both external shocks and persistent capital outflows from domestic markets.

Despite the currency weakness, equity markets remained relatively stable in earlier trading sessions, though analysts caution that prolonged rupee depreciation could eventually feed into higher inflation and import costs.

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India’s CPI inflation rises to 3.48% in April

India’s retail inflation touched 3.48% in April, marking the highest level in over a year as rising food and service costs continued to affect household budgets.

Data released by the government showed that prices of several daily-use items increased during the month. Food inflation remained a major concern, with vegetables, edible oils and packaged products becoming more expensive in many parts of the country.

Consumers also paid more for eating out, as restaurants passed on higher fuel and ingredient costs to customers. Education expenses, including school and tuition fees, also recorded a rise.

Pet care emerged as another growing contributor to inflation, with urban households spending more on pet food, healthcare and grooming services.

Meanwhile, gold and silver jewellery prices surged after the Centre increased import duties on precious metals to support the rupee and reduce imports.

While inflation remains below the RBI’s 4% target, experts say households are beginning to feel the impact of rising prices across both essential goods and lifestyle-related spending categories.

Analysts said rising crude oil prices and global tensions are adding pressure on inflation and could affect transportation and fuel costs in the coming months.

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Kevin Warsh confirmed to US Federal Reserve Board

The US Senate has confirmed economist Kevin Warsh to the Federal Reserve Board, bringing him one step closer to leading the country’s central bank at a crucial time for the American economy.

Warsh, a former Federal Reserve governor, was approved after a closely watched Senate vote that reflected sharp political divisions in Washington. His confirmation comes as the US continues to deal with inflation concerns, high interest rates and uncertainty caused by global conflicts and rising energy prices.

With his return to the Federal Reserve, attention is now turning to whether he could soon replace current Fed Chair Jerome Powell, whose term is nearing its end.

Warsh is no stranger to the institution. He previously served on the Federal Reserve Board during the 2008 global financial crisis and was involved in some of the key decisions taken during that period. Over the years, he has also worked in finance, law and economic policy.

Supporters describe him as experienced and capable of handling difficult economic conditions. However, his nomination has also sparked debate, especially among Democrats who questioned whether the Federal Reserve would remain politically independent under his leadership.

During his confirmation hearing, Warsh said the central bank must continue to make decisions independently and focus on controlling inflation and supporting economic stability.

The Federal Reserve plays a major role in shaping the US economy by deciding interest rates and managing inflation. Any change in its leadership is closely watched by investors, businesses and governments around the world because Fed decisions often influence global financial markets.

The confirmation also comes during a sensitive period for the global economy, with concerns over slowing growth, geopolitical tensions and volatility in oil prices affecting markets worldwide.

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Air India cuts overseas flights due to fuel costs hike

Air India has announced reductions in several international flights as soaring fuel prices and geopolitical tensions continue to increase pressure on airline operations.

The airline will temporarily reduce services on select overseas routes between June and August as rising aviation turbine fuel (ATF) costs make operations more expensive. The ongoing conflict in West Asia has also affected global aviation by increasing fuel prices and forcing airlines to avoid certain airspaces, leading to longer flight routes and higher operating expenses.

According to reports, Air India has already reduced around 90 flights in May and plans to cut nearly 100 more flights over the next few months. Some international routes may see fewer weekly services, while a few sectors could face temporary suspension depending on demand and operational costs.

The airline clarified that reports circulating on social media claiming all international flights had been cancelled until July were false. Air India said international operations continue across major destinations, though some schedule adjustments are being made to manage costs more effectively.

Flights to certain sensitive destinations, including Tel Aviv, remain suspended because of security concerns linked to the regional conflict. Industry experts say airlines around the world are currently facing similar challenges due to the sharp rise in fuel prices and uncertainty in global markets.

Air India currently operates around 1,200 flights daily across domestic and international routes. However, a weakening rupee, rising crude oil prices and higher operational expenses have added financial pressure on long-haul international services.

Also Read: Centre hikes gold, silver import duty from 6% to 15%

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EPFO fined ₹50,000 for 10-year delay in PF transfer

The Employees’ Provident Fund Organisation (EPFO) has been directed to pay ₹50,000 compensation to an employee after taking almost 10 years to transfer his provident fund account from one employer to another.

The order was passed by the District Consumer Disputes Redressal Commission in Chandigarh, which criticised the EPFO for the long delay and called it a clear case of poor service.

The employee had switched jobs from Tech Mahindra to Infosys in 2010 and applied for the transfer of his PF balance soon after. However, despite repeated reminders, complaints and RTI applications, the transfer process remained pending for years.

According to the case details, the PF amount was finally transferred only in 2020. The employee then approached the consumer commission, arguing that the delay caused financial loss and mental stress.

During the hearing, the EPFO blamed technical and software-related issues for the delay. The commission, however, rejected the explanation and observed that such excuses could not justify keeping a subscriber waiting for nearly a decade for access to his own savings.

The commission termed the delay a “deficiency in service” and ordered the EPFO to pay ₹50,000 towards compensation and litigation costs within 60 days. It also warned that failure to comply would attract interest on the amount.

The ruling has drawn attention to delays faced by many PF subscribers and is being viewed as a significant decision on accountability in public service delivery.

Also Read: Centre hikes gold, silver import duty from 6% to 15%

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Centre hikes gold, silver import duty from 6% to 15%

The Centre has increased import duties on gold and silver from 6% to 15% in a major move aimed at reducing imports, supporting the rupee and protecting foreign exchange reserves amid global economic uncertainty.

The revised tariff structure, which came into effect immediately, includes a 10% basic customs duty along with a 5% Agriculture Infrastructure and Development Cess (AIDC). Import duty on platinum has also been raised to 15.4%.

Following the announcement, domestic bullion markets witnessed a sharp rally. Gold prices surged nearly 10%, climbing to around ₹1.62 lakh per 10 grams in some markets, while silver prices jumped by nearly ₹17,000 per kilogram to touch ₹2.90 lakh per kg. Traders described the move as one of the sharpest single-day increases in domestic bullion prices in recent years.

Market experts said the sudden rise in import duty directly increased the landed cost of precious metals, leading to a spike in retail and futures prices across the country. Gold and silver futures on the Multi Commodity Exchange (MCX) also recorded strong gains during Wednesday’s trade.

The government’s decision comes amid pressure on the rupee due to rising crude oil prices, foreign fund outflows and geopolitical tensions in West Asia. Officials believe reducing imports of non-essential commodities such as gold can help narrow the trade deficit and conserve foreign exchange reserves.

India is among the world’s largest consumers of gold, with demand driven mainly by jewellery purchases, weddings and investment demand. Industry representatives warned that the steep increase in duty could affect jewellery demand in the coming months, especially as global gold prices are already trading near record highs.

Some analysts also cautioned that higher import taxes may encourage unofficial imports and smuggling, which had declined after the government reduced duties in recent years. Jewellers said consumers could delay purchases in anticipation of price corrections or lower taxes in the future.

The duty hike follows recent appeals from Prime Minister Narendra Modi urging citizens to reduce gold purchases temporarily to ease pressure on the economy and external accounts.

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