FM ‘relieved at statistically insignificant’ figures

NEW DELHI: : Finance minister P Chidambaram said in the Capital on Friday, “The rise of Inflation from 7.57 to 7.61 per cent for the week ending April 26 is not statistically significant. It has come as big relief that it has remained static over the previous week’s figure.” The marginal price hike points to a stabilising trend in inflation, he noted. Chidambaram, however, added, “More administrative steps will be taken as and when necessary.” The finance minister informed that the Government was still in the process of persuading cement manufacturers to hold back prices. Chidambaram, who was recently in Madrid, Spain, to attend an Asian Development Bank meeting, said, “Each one of the 67 finance ministers present was concerned about inflation.... There has been a continuous rise in Oil prices and food prices. Commodity prices have not yet started moderating in the international market.”

Futures need infra: Swaminathan

Kochi: Noted agriculture scientist M S Swaminathan has said that futures trading could affect farmers “favourably” if we have the infrastructure. Asked whether futures trading affects the farming community, he said, “ It can be favourable if you have infrastructure.”

Shift from banned items lifts prices

New Delhi: Prices and volumes of guard seed on the NCDEX platform rose sharply on Friday after traders switched over to guar seed from banned commodities. “Traders and speculators are active in guar seed after the government suspended futures trade in four agriculture commodities,” Karvy Comtrade analyst Chowda Reddy said. In the absence of chana, volumes shifted to guar seed.

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