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Will Gold Import in India Decline? Forecast for Food Prices

December 25, 2009 at 0:37 by Vladimir Vyun

Gold imports in India, the greatest buyer in the world, may wane in December because demand went down on high prices. Imports by India expected to fall to 30 metric tons, down from 32 metric tons in November. Analysts forecast that “demand will remain low until prices fall”. Bullion for immediate-delivery rose to $1,096.66 by 9:56 in Mumbai.

Analysts predict that retail-food prices in the U.S. will rise about 2 percent this year, curbed by declining production. The outlook for food inflation in 2010 is about 3.5 percent. Beef and veal prices dropped at a rate of 0.5 to 1.5 percent this year. Pork prices fell 1.5 to 2.5 percent. Prices for fruits and vegetables slid 1.5 to 2.5 percent this year.

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