Indian Annual rate of inflation, year-on-year, declined to 5.9 per cent for the week ending December 27, 2008 compared to 6.4 per cent reported in the previous week, showing a decline of 47 basis points, says a Finance Ministry communique.
Inflation has consistently been on the decline for three months now and stands slightly above the rate of 5.7 per cent in the week ended February 23, 2008.
Inflation by Commodity groups
Commodity group-wise examination of year-on-year inflation shows that inflation in all groups has recorded decline.
i.In ‘primary articles’, the rate of inflation decreased to 11.6 per cent, compared to 12.1 per cent reported last week. Within primary articles, inflation rate in all its three sub-groups of food and non-food articles and minerals have declined together for the first time in the current week. Inflation rate in food articles at about 10% represents a decline after 5 consecutive weeks of increase in the rate, while the inflation rate in minerals have gradually decelerated to 40 % in the current week from its peak rate of 54.5 % in October.
ii.In ‘fuel and power’, the rate of inflation has remained unchanged at (-) 0.7 per cent.
iii.In “manufactured products”, the inflation rate decreased to 6.2 per cent, compared to 6.8 per cent in the last week.
For the combined food index (weight = 25.43 per cent), the year-on-year inflation in the week ended December 27, 2008 was lower at 8.5 per cent compared to 8.8 per cent last week.
Contribution of Commodity groups
Contribution of primary articles to the year-on-year inflation rate for the week ending December 27, 2008 show that this group accounted for 44.2 per cent, as against their share of 22 per cent to the WPI basket.
Deseasonalised monthly WPI inflation
The deseasonalised overall WPI inflation show a continuing decline which began from July 2008. It has turned negative since September 2008 at (-) 3.2 per cent, (-) 9.6 per cent in October, (-) 18.1 per cent in November and (-) 13.5 per cent in December 2008. An identical pattern of decline from July 2008 and negative from September is manifest in the deseasonalised rate of inflation for manufactured products.
Showing posts with label commodities. Show all posts
Showing posts with label commodities. Show all posts
Friday, January 9, 2009
Friday, August 15, 2008
Enter Reliance: NMCE moves to Mumbai
AHMEDABAD: National Mutui-Commodity Exchange (NMCE) of India Ltd., the country's first online demutualised, multi-commodity exchange, has announced its plans to move its Corporate Office from Ahmedabad to Mumbai.
This announcement comes at the back of Reliance Money, India’s largest financial conglomerate and distribution house, agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
“With a renewed focus on growth, NMCE is aggressively looking at expanding its membership network and commodity base offered. We plan to not only launch newer commodities, but also plan to reach out to the huge investor base in the commodity arena through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, CEO, Reliance Money and recently inducted Director on the NMCE Board.
Besides plans to move its corporate office to Mumbai, NMCE is also looking at recruitments at various levels to further strengthen its management.
"The decision to move our Corporate Office from Ahmedabad to Mumbai is a part of our overall strategy to revamp the entire working of the exchange. Though being the country's first online demutualised, multi-commodity exchange, we have missed out by not being present in the financial capital of the country,” said Mr. Kailash Gupta, Managing Director, NMCE.
NMCE is the country's first online de-mutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Kailash Gupta B. N. Kumar
National Multi-Commodity Exchange Concept Communication
+91-79-40086039 +91-9321048332
mailbnk@gmail.com
This announcement comes at the back of Reliance Money, India’s largest financial conglomerate and distribution house, agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
“With a renewed focus on growth, NMCE is aggressively looking at expanding its membership network and commodity base offered. We plan to not only launch newer commodities, but also plan to reach out to the huge investor base in the commodity arena through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, CEO, Reliance Money and recently inducted Director on the NMCE Board.
Besides plans to move its corporate office to Mumbai, NMCE is also looking at recruitments at various levels to further strengthen its management.
"The decision to move our Corporate Office from Ahmedabad to Mumbai is a part of our overall strategy to revamp the entire working of the exchange. Though being the country's first online demutualised, multi-commodity exchange, we have missed out by not being present in the financial capital of the country,” said Mr. Kailash Gupta, Managing Director, NMCE.
NMCE is the country's first online de-mutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Kailash Gupta B. N. Kumar
National Multi-Commodity Exchange Concept Communication
+91-79-40086039 +91-9321048332
mailbnk@gmail.com
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