Backgrounder on India's Wholesale Price Index
VANCOUVER - Feb 12/10 - SNS -- India's wholesale price index has been attracting more interest in recent weeks because the apparent disconnection between it and world agriculture markets, especially pulses.
As it turns out, the wholesale price index is a reflection of the India's internal market for pulses and does not include imported pulses in the calculations. When the calculations currently in use were developed, pulse imports were not a major factor of the Indian market.
Today's weights are based on India's 1993-94 fiscal year. During the 1993-94 marketing year, field pea imports from Canada totalled 50,591 MT. By 1997-98 they passed 175,000. It was not until the 2004-05 marketing year, that field peas imports from Canada reached 600,000 MT, before finally passing the million ton mark in 2007-08.
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
