Wednesday, December 4, 2024
HomeEthanolGovt plans to set up real-time agri supply-demand model to predict prices

Govt plans to set up real-time agri supply-demand model to predict prices

The step comes at a time when consumers have been battling price volatility in several essential commodities and the government has launched a slew of measures to keep inflation in check.

New Delhi: The government is planning to create a real-time supply and demand model for select agricultural commodities that will help it plan and evaluate policy for a volatile market. The “mathematical model” will use dynamic and real-time data from high-frequency indicators and historical trends, said a government official requesting anonymity.

The step comes at a time when consumers have been battling price volatility in several essential commodities and the government has launched a slew of measures to keep inflation in check.

While inflation in retail cereal prices has been in double digits for several months, recurrent volatility in prices of vegetables like tomatoes and onions has been a sore point for consumers, farmers and inflation managers.

A real-time model could also prevent India from mis-steps like last year’s when it miscalculated the size of its wheat harvest which led to a policy flip-flop—of promising to export wheat following the Ukraine war, and then hastily imposing a ban soon after.

The above news was originally posted on news.google.com

Sugar Times
Sugar Timeshttp://sugartimes.co.in
Sugar Times is a monthly Hindi news magazine on sugarcane, ethanol and molasses; founded in co-guidance of sugar industry experienced professionals of the cane dept., scientists of sugar research institutes and experts that is distributed to a national audience in the sugar industry.Setting up a remarkable journey of 6+ years; we now have more than 10,700+ monthly circulation widely in Sugar Industry, Sugar Institutes, Sugar Federations, Sugar Mills, Potential Farmers and other liquor allied distilleries and sugar industries. Considering the geography, we have a strong hold in the northern states of the country.OBJECTIVE: - Our magazine is an initiative for sharing information and knowledge on sugarcane policies, sugarcane farming techniques for the farmers and sugar industry. It covers different articles, write-ups and news on govt. policies, sugar mill updates, molasses data and other important datas of the business.
RELATED ARTICLES
- Advertisment -spot_img

Most Popular

WP2Social Auto Publish Powered By : XYZScripts.com