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Not a Benign Market: An Analysis of Food Price Inflation and Volatility

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  • C.P. Chandrasekhar

    (C.P. Chandrasekhar is Professor, Centre for Economic Studies & Planning, Jawaharlal Nehru University, New Delhi, India. Email: cpchand@gmail.com)

Abstract

Food inflation in India for the past few years has been at a historic high. However, the evidence suggests that higher food prices, while adversely affecting those who spend most of their income on food, have not necessarily been helpful to smallholder farmers. The volatility of food prices at the wholesale and retail levels has also remained high, creating uncertainties for consumers and producers. This article reviews recent trends in food prices in India, examines the sources of food price increases and volatility, separates the relative roles of demand–supply imbalances, cost-push factors and speculation and draws out some of the implications of those factors.

Suggested Citation

  • C.P. Chandrasekhar, 2013. "Not a Benign Market: An Analysis of Food Price Inflation and Volatility," Agrarian South: Journal of Political Economy, Centre for Agrarian Research and Education for South, vol. 2(2), pages 121-159, August.
    • Handle: RePEc:sae:agspub:v:2:y:2013:i:2:p:121-159
    DOI: 10.1177/2277976013493572
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    References listed on IDEAS

    as
    1. C. P. Chandrasekhar & Jayati Ghosh, 2012. "Addressing the Global Food Crisis: Causes, Implications, and Policy Options," Journal, Review of Agrarian Studies, vol. 2(1), pages 44-70, January-J.
    2. Chandrasekhar, C. P. & Ghosh, Jayati, 2012. "Addressing the Global Food Crisis: Causes, Implications, and Policy Options," Review of Agrarian Studies, Foundation for Agrarian Studies, vol. 2(1), July.
    3. Dasgupta, Dipak & Dubey, R.N. & Sathish, R, 2011. "Domestic Wheat Price Formation and Food Inflation in India," MPRA Paper 31564, University Library of Munich, Germany.
    4. Dipak Dasgupta & R N Dubey & R Satish, 2011. "Domestic Wheat Price Formation and Food Inflation in India: International Prices, Domestic Drivers (Stocks, Weather, Public Policy), and the Efficacy of Public Policy Interventions in Wheat Markets," Working Papers id:4291, eSocialSciences.
    Full references (including those not matched with items on IDEAS)

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