Vegetable prices rising, but farmers’ income isn’t
The sharp rise in onion prices and consequent rise in food inflation has disturbed the math for policy makers and the budget of millions of middle and lower class Indian households.
But the recent increase in food prices has not resulted in rural wage growth. According to data by the Centre for Monitoring Indian Economy (CMIE) that farm profitability and growth has been weak across major food grains like rice, wheat, moong and tur.
Data shows that the compound annual growth rate (CAGR) from 2015 to 2019 has declined for moong and tur by 34.8 per cent and 9.9 per cent respectively. CAGR grew by a mere 0.4 per cent for rice, but 7.8 per cent for wheat.
