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    Food Prices May Stabilize in India


    by NTDTelevision

    India is struggling to contain rising food prices, with food inflation hovering near 20 percent in December. But the high food prices may start stabilizing within a few days, following the measures unveiled by the government on Wednesday.

    [Sharad Pawar, Agriculture Minister of India]:
    "In a week or 10 days, the process of prices coming down will start."

    Prime Minister Manmohan Singh would convene a meeting with state Chief Ministers to discuss the implementation of the Essential Commodities Act.

    [Sharad Pawar, Agriculture Minister of India]:
    "The Prime Minister will hold a meeting of Chief Ministers very soon some time in last week of January to discuss the situation of food prices and review the implementation of Essential Commodities Act, and also ensure full lifting of wheat and rice allocated to the states."

    The federal government was taking steps to help millers in Uttar Pradesh, a leading producer, and to lift imported raw sugar held up at ports.

    The government has formally extended the deadline for duty-free imports of white sugar to December 31 to ensure smooth domestic supplies.