Basmati paddy prices are expected to touch their highest level of Rs 3,400 per quintal during the forthcoming harvesting season, says a research report. The prices of traditional Basmati paddy are in the range of Rs 2,650—3,350 per quintal this month, and are expected to be Rs 2,500—3,200 per quintal in November. In December, however, they will go up to Rs 2,700—3,400 per quintal, depending on the varieties, the report said. The forecast...
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India's Bitter Choice: Water for Steel or Food? by Abhishek Shanker
Global steel giants ArcelorMittal (MT) and Posco are leading $80 billion in planned spending in India, an investment that would vault the country ahead of Japan as the second-biggest steelmaker. There's one hurdle: India's farmers and their water supply. The farmers refuse to move from irrigated land in three states that hold more than half of India's reserves of iron ore, a key material used in the making of steel....
More »Speculation and the economics of hunger by Biraj Patnaik
A recent report of the UN Special Rapporteur on the Right to Food, Olivier de Schutter, provides a damning indictment of the role of speculation in food commodities in fuelling the global food crisis. The report – 'Food Commodities Speculation and Food Price Crisis – was released on the eve of an emergency meeting of the UN-FAO on the instability in agricultural markets. The global food crisis in 2007-08 led to...
More »Rotting grain & judicial transgression by Ashok Khemka
The mountainous state-owned food stocks lying in the open and rotting in the rain are in stark conflict with a failing public distribution system , hunger, malnutrition and high food prices. The poor management of food stocks provoked the Supreme Court to transgress into executive domain when, on August 12, the court made certain directions like limiting procurement to covered warehousing capacity and distributing the rotting foodgrains free of cost...
More »NAC plan fails to pass muster with ministry by Liz Mathew
The department of food and public distribution has rejected both proposals of the National Advisory Council (NAC) to provide food security, saying the government risked running up against supply constraints and taking on an unsustainable fiscal burden. The rejection by the ministry of consumer affairs, food and public distribution means that both NAC, headed by Congress party president Sonia Gandhi, and the government will have to go back to the drawing board...
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