As input costs for companies are rising amid global uncertainties and high international commodity rates, prices of various products in India are also getting a hit, including vegetables, packed food items, milk and edible oils, thus stoking retail inflation that is hovering at over eight-year high levels. Economists expect inflation to rise further in the next quarter before easing.
Indonesia recently lifted its export ban on palm oil, which has given a major respite to India. The ban impact edible prices in India. However, now, Malaysia is banning the exports of chicken that will majorly affect Singapore (which sources a third of its supply from Malaysia), Thailand, Brunei, Japan and Hong Kong. The ban is the latest in a series of the Malaysian government’s measures aimed at easing domestic prices as nations around the world battle rising food costs, partly driven by the war in