Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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</span></span></code>
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		&#039;title&#039; =&gt; &#039;Skyrocketing prices may be bad news but the worst is yet to come!&#039;,
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&lt;br /&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; 
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&lt;/font&gt;&lt;/a&gt; 
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;font &gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot; title=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot; title=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot; title=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot; title=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot; title=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot; title=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O&lt;br /&gt;penDocument&lt;/a&gt; &lt;/p&gt;&#039;,
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&lt;br /&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...&#039;
$disp = &#039;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;font &gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot; title=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot; title=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot; title=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot; title=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot; title=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot; title=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O&lt;br /&gt;penDocument&lt;/a&gt; &lt;/p&gt;&#039;
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                <strong>Skyrocketing prices may be bad news but the worst is yet to come!</strong></h1>
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                <p align="justify"><br /><font >Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> </p><p align="justify"><font >A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font></p><p align="justify"><font >The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font></p><p align="justify"><font >Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font></p><p align="justify"><font >The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> </p><p align="justify"><font >Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font></p><p align="justify"><font >The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> </p><p align="justify"><font >When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf" title="http://www.ifpri.org/sites/default/files/publications/ib57.pdf">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</a><font > </font></p><p align="justify"><font >Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf" title="http://www.ifpri.org/sites/default/files/publications/pr20.pdf">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</a><font > </font></p><p align="justify"><font >Rising Food Prices Causes and Consequences, OECD (2008),<br /></font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf" title="http://www.oecd.org/dataoecd/54/42/40847088.pdf">http://www.oecd.org/dataoecd/54/42/40847088.pdf</a><font > </font></p><p align="justify"><font >Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf" title="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</a><font > </font></p><p align="justify"><font >&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br /></font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm" title="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</a> </p><p align="justify"><font >The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm" title="http://macroscan.com/fet/aug09/fet210809Drought.htm">http://macroscan.com/fet/aug09/fet210809Drought.htm</a> </p><p align="justify"><font >Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br /></font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm" title="http://www.indiatogether.org/2009/may/eco-inflation.htm">http://www.indiatogether.org/2009/may/eco-inflation.htm</a><font > </font></p><p align="justify"><font >India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br /></font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument" title="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O<br />penDocument</a> </p>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f4f1e98090c-trace').style.display = (document.getElementById('cakeErr67f4f1e98090c-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f4f1e98090c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f4f1e98090c-code').style.display = (document.getElementById('cakeErr67f4f1e98090c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f4f1e98090c-context').style.display = (document.getElementById('cakeErr67f4f1e98090c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f4f1e98090c-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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&lt;br /&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&lt;/font&gt;&lt;/a&gt; 
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;font &gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot; title=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot; title=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot; title=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot; title=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot; title=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot; title=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O&lt;br /&gt;penDocument&lt;/a&gt; &lt;/p&gt;&#039;,
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	&#039;id&#039; =&gt; (int) 105,
	&#039;title&#039; =&gt; &#039;Skyrocketing prices may be bad news but the worst is yet to come!&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
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&lt;br /&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&lt;/font&gt;&lt;/a&gt; 
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...&#039;
$disp = &#039;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;font &gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot; title=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot; title=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot; title=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot; title=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot; title=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot; title=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O&lt;br /&gt;penDocument&lt;/a&gt; &lt;/p&gt;&#039;
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the..."/>
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                <strong>Skyrocketing prices may be bad news but the worst is yet to come!</strong></h1>
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                <p align="justify"><br /><font >Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> </p><p align="justify"><font >A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font></p><p align="justify"><font >The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font></p><p align="justify"><font >Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font></p><p align="justify"><font >The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> </p><p align="justify"><font >Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font></p><p align="justify"><font >The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> </p><p align="justify"><font >When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf" title="http://www.ifpri.org/sites/default/files/publications/ib57.pdf">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</a><font > </font></p><p align="justify"><font >Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf" title="http://www.ifpri.org/sites/default/files/publications/pr20.pdf">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</a><font > </font></p><p align="justify"><font >Rising Food Prices Causes and Consequences, OECD (2008),<br /></font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf" title="http://www.oecd.org/dataoecd/54/42/40847088.pdf">http://www.oecd.org/dataoecd/54/42/40847088.pdf</a><font > </font></p><p align="justify"><font >Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf" title="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</a><font > </font></p><p align="justify"><font >&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br /></font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm" title="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</a> </p><p align="justify"><font >The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm" title="http://macroscan.com/fet/aug09/fet210809Drought.htm">http://macroscan.com/fet/aug09/fet210809Drought.htm</a> </p><p align="justify"><font >Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br /></font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm" title="http://www.indiatogether.org/2009/may/eco-inflation.htm">http://www.indiatogether.org/2009/may/eco-inflation.htm</a><font > </font></p><p align="justify"><font >India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br /></font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument" title="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O<br />penDocument</a> </p>               </font>
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; 
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; 
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; 
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/font&gt;&lt;/a&gt; 
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/font&gt;&lt;/a&gt; 
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;font &gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot; title=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot; title=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot; title=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot; title=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot; title=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot; title=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O&lt;br /&gt;penDocument&lt;/a&gt; &lt;/p&gt;&#039;,
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	&#039;id&#039; =&gt; (int) 105,
	&#039;title&#039; =&gt; &#039;Skyrocketing prices may be bad news but the worst is yet to come!&#039;,
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&lt;br /&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/font&gt;&lt;/a&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt; &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;
&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&lt;/font&gt;&lt;/a&gt; 
&lt;/p&gt;
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...&#039;
$disp = &#039;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;font &gt;Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &amp;lsquo;Food Outlook&amp;rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&amp;rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:&lt;/font&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/ib57.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&amp;nbsp; &lt;/font&gt;&lt;a href=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot; title=&quot;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&quot;&gt;http://www.ifpri.org/sites/default/files/publications/pr20.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rising Food Prices Causes and Consequences, OECD (2008),&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot; title=&quot;http://www.oecd.org/dataoecd/54/42/40847088.pdf&quot;&gt;http://www.oecd.org/dataoecd/54/42/40847088.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, &lt;/font&gt;&lt;a href=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot; title=&quot;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&quot;&gt;http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;lsquo;Disturbing&amp;rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot; title=&quot;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&quot;&gt;http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, &lt;/font&gt;&lt;a href=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot; title=&quot;http://macroscan.com/fet/aug09/fet210809Drought.htm&quot;&gt;http://macroscan.com/fet/aug09/fet210809Drought.htm&lt;/a&gt; &lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot; title=&quot;http://www.indiatogether.org/2009/may/eco-inflation.htm&quot;&gt;http://www.indiatogether.org/2009/may/eco-inflation.htm&lt;/a&gt;&lt;font &gt; &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,&lt;br /&gt;&lt;/font&gt;&lt;a href=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot; title=&quot;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument&quot;&gt;http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O&lt;br /&gt;penDocument&lt;/a&gt; &lt;/p&gt;&#039;
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                <strong>Skyrocketing prices may be bad news but the worst is yet to come!</strong></h1>
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                <p align="justify"><br /><font >Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> </p><p align="justify"><font >A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font></p><p align="justify"><font >The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font></p><p align="justify"><font >Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font></p><p align="justify"><font >The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> </p><p align="justify"><font >Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font></p><p align="justify"><font >The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> </p><p align="justify"><font >When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf" title="http://www.ifpri.org/sites/default/files/publications/ib57.pdf">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</a><font > </font></p><p align="justify"><font >Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf" title="http://www.ifpri.org/sites/default/files/publications/pr20.pdf">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</a><font > </font></p><p align="justify"><font >Rising Food Prices Causes and Consequences, OECD (2008),<br /></font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf" title="http://www.oecd.org/dataoecd/54/42/40847088.pdf">http://www.oecd.org/dataoecd/54/42/40847088.pdf</a><font > </font></p><p align="justify"><font >Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf" title="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</a><font > </font></p><p align="justify"><font >&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br /></font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm" title="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</a> </p><p align="justify"><font >The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm" title="http://macroscan.com/fet/aug09/fet210809Drought.htm">http://macroscan.com/fet/aug09/fet210809Drought.htm</a> </p><p align="justify"><font >Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br /></font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm" title="http://www.indiatogether.org/2009/may/eco-inflation.htm">http://www.indiatogether.org/2009/may/eco-inflation.htm</a><font > </font></p><p align="justify"><font >India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br /></font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument" title="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O<br />penDocument</a> </p>               </font>
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<font face="arial,helvetica,sans-serif" size="3">Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> 
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<font face="arial,helvetica,sans-serif" size="3">A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font>
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<font face="arial,helvetica,sans-serif" size="3">The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font>
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<font face="arial,helvetica,sans-serif" size="3">Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font>
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<font face="arial,helvetica,sans-serif" size="3">The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> 
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<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf"><font face="arial,helvetica,sans-serif" size="3">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf"><font face="arial,helvetica,sans-serif" size="3">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Rising Food Prices Causes and Consequences, OECD (2008),<br />
</font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf"><font face="arial,helvetica,sans-serif" size="3">http://www.oecd.org/dataoecd/54/42/40847088.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf"><font face="arial,helvetica,sans-serif" size="3">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br />
</font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm"><font face="arial,helvetica,sans-serif" size="3">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</font></a> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm"><font face="arial,helvetica,sans-serif" size="3">http://macroscan.com/fet/aug09/fet210809Drought.htm</font></a> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br />
</font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm"><font face="arial,helvetica,sans-serif" size="3">http://www.indiatogether.org/2009/may/eco-inflation.htm</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br />
</font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument"><font face="arial,helvetica,sans-serif" size="3">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument</font></a> 
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...',
	'disp' => '<p align="justify"><br /><font >Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> </p><p align="justify"><font >A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font></p><p align="justify"><font >The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font></p><p align="justify"><font >Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font></p><p align="justify"><font >The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> </p><p align="justify"><font >Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font></p><p align="justify"><font >The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> </p><p align="justify"><font >When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf" title="http://www.ifpri.org/sites/default/files/publications/ib57.pdf">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</a><font > </font></p><p align="justify"><font >Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf" title="http://www.ifpri.org/sites/default/files/publications/pr20.pdf">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</a><font > </font></p><p align="justify"><font >Rising Food Prices Causes and Consequences, OECD (2008),<br /></font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf" title="http://www.oecd.org/dataoecd/54/42/40847088.pdf">http://www.oecd.org/dataoecd/54/42/40847088.pdf</a><font > </font></p><p align="justify"><font >Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf" title="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</a><font > </font></p><p align="justify"><font >&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br /></font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm" title="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</a> </p><p align="justify"><font >The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm" title="http://macroscan.com/fet/aug09/fet210809Drought.htm">http://macroscan.com/fet/aug09/fet210809Drought.htm</a> </p><p align="justify"><font >Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br /></font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm" title="http://www.indiatogether.org/2009/may/eco-inflation.htm">http://www.indiatogether.org/2009/may/eco-inflation.htm</a><font > </font></p><p align="justify"><font >India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br /></font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument" title="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O<br />penDocument</a> </p>',
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	'title' => 'Skyrocketing prices may be bad news but the worst is yet to come!',
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<br />
<font face="arial,helvetica,sans-serif" size="3">Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf"><font face="arial,helvetica,sans-serif" size="3">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf"><font face="arial,helvetica,sans-serif" size="3">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Rising Food Prices Causes and Consequences, OECD (2008),<br />
</font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf"><font face="arial,helvetica,sans-serif" size="3">http://www.oecd.org/dataoecd/54/42/40847088.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf"><font face="arial,helvetica,sans-serif" size="3">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br />
</font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm"><font face="arial,helvetica,sans-serif" size="3">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</font></a> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm"><font face="arial,helvetica,sans-serif" size="3">http://macroscan.com/fet/aug09/fet210809Drought.htm</font></a> 
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br />
</font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm"><font face="arial,helvetica,sans-serif" size="3">http://www.indiatogether.org/2009/may/eco-inflation.htm</font></a><font face="arial,helvetica,sans-serif" size="3"> </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br />
</font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument"><font face="arial,helvetica,sans-serif" size="3">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument</font></a> 
</p>
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Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the...'
$disp = '<p align="justify"><br /><font >Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses.</font> </p><p align="justify"><font >A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. </font></p><p align="justify"><font >The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 &lsquo;Food Outlook&rsquo; points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures&rsquo; trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. </font></p><p align="justify"><font >Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. </font></p><p align="justify"><font >The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements.</font> </p><p align="justify"><font >Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. </font></p><p align="justify"><font >The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular:</font> </p><p align="justify"><font >When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, </font><a href="http://www.ifpri.org/sites/default/files/publications/ib57.pdf" title="http://www.ifpri.org/sites/default/files/publications/ib57.pdf">http://www.ifpri.org/sites/default/files/publications/ib57.pdf</a><font > </font></p><p align="justify"><font >Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,&nbsp; </font><a href="http://www.ifpri.org/sites/default/files/publications/pr20.pdf" title="http://www.ifpri.org/sites/default/files/publications/pr20.pdf">http://www.ifpri.org/sites/default/files/publications/pr20.pdf</a><font > </font></p><p align="justify"><font >Rising Food Prices Causes and Consequences, OECD (2008),<br /></font><a href="http://www.oecd.org/dataoecd/54/42/40847088.pdf" title="http://www.oecd.org/dataoecd/54/42/40847088.pdf">http://www.oecd.org/dataoecd/54/42/40847088.pdf</a><font > </font></p><p align="justify"><font >Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, </font><a href="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf" title="http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf">http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf</a><font > </font></p><p align="justify"><font >&lsquo;Disturbing&rsquo; divergence in WPI, CPI inflation, The Hindu, 8 September, 2009,<br /></font><a href="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm" title="http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm">http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm</a> </p><p align="justify"><font >The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, </font><a href="http://macroscan.com/fet/aug09/fet210809Drought.htm" title="http://macroscan.com/fet/aug09/fet210809Drought.htm">http://macroscan.com/fet/aug09/fet210809Drought.htm</a> </p><p align="justify"><font >Inflation: perception and reality by Kannan Kasturi, 27 May, 2009,<br /></font><a href="http://www.indiatogether.org/2009/may/eco-inflation.htm" title="http://www.indiatogether.org/2009/may/eco-inflation.htm">http://www.indiatogether.org/2009/may/eco-inflation.htm</a><font > </font></p><p align="justify"><font >India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009,<br /></font><a href="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument" title="http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?OpenDocument">http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O<br />penDocument</a> </p>'
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Skyrocketing prices may be bad news but the worst is yet to come!

Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the poor and lower purchasing power in the hands of the masses. A number of factors have contributed to the recent spurts in prices that include production of cereals and oilseeds remaining somewhat below trend and a strong growth of demand. Increased investment in agricultural derivative markets, coupled with declining levels of stocks, too have worsened the crisis. Droughts in key grain-producing regions of the world, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar have been the other factors that contributed to the international inflation during 2008. The prices of food items have increased since December, 2008. There has been a 19.6 percent jump in International Monetary Fund (IMF) food price index between December 2008 and June 2009. The recent hike in food prices could be due to a number of factors. The Food and Agriculture Organisation (FAO), in its June 2009 ‘Food Outlook’ points to a reduction in cereal output for the year 2009-10. Stagnation in oilseeds production has been observed in South America. Severe weather has affected the prospect of soyabean supply. Sugar prices have remained high in 2008-09 and increased since December 2008. Speculative futures’ trading has been blamed to have impacted food prices. Experts feel that diversion of oilseeds and cereals like maize for biofuel production would continue to exert upward pressure on prices. Unlike the scenario at the international level, year-on-year (y-o-y) variations in the wholesale price index (WPI)--a measure of inflation in India--declined during 2009-10 from 0.8 per cent at end-March 2009 to turn negative in June 2009 (-1.2 per cent as on July 11, 2009). This, however, reflected the base effect of sharp increase in prices recorded during the first half of 2008-09. The National Statistical Commission earlier in 2001 suggested streamlining all the consumer price indices (CPI) to a composite index as prevalent in developed nations so as to accurately measure and tackle price movements. Presence of food price inflation in the midst of drought calls for immediate action by the government in terms of emergency food distribution and relief programmes and formulation of district-wise agricultural plans. The links and resources below can lead to the issues and debates surrounding inflation in general, and food price hike in particular: When speculation matters by Miguel Robles, Maximo Torero and Joachim von Braun, IFPRI, February, 2009, http://www.ifpri.org/sites/default/files/publications/ib57.pdf Food and financial crises: Implications for agriculture and the poor by Joachim von Braun, IFPRI, December, 2008,  http://www.ifpri.org/sites/default/files/publications/pr20.pdf Rising Food Prices Causes and Consequences, OECD (2008), http://www.oecd.org/dataoecd/54/42/40847088.pdf Chapter VI: Price Situation, Macroeconomic and Monetary Developments First Quarter Review 2009-10, http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/6PSMMDJU09.pdf ‘Disturbing’ divergence in WPI, CPI inflation, The Hindu, 8 September, 2009, http://www.thehindu.com/2009/09/08/stories/2009090860341400.htm The Threat of Drought-driven Inflation by CP Chandrasekhar and Jayati Ghosh, 24 August, 2009, http://macroscan.com/fet/aug09/fet210809Drought.htm Inflation: perception and reality by Kannan Kasturi, 27 May, 2009, http://www.indiatogether.org/2009/may/eco-inflation.htm India inflation falls but food prices up amid drought, Relief Web, 20 August, 2009, http://www.reliefweb.int/rw/rwb.nsf/db900sid/MUMA-7V68AA?O penDocument