The government today reviewed the prices and availability of sugar in domestic market in the backdrop of strong industry demand for allowing exports. An empowered group of ministers (EGoM) on food, headed by Finance Minister Pranab Mukherjee, however, did not take any decision in this regard due to the absence of three key ministers -- Agriculture Minister Sharad Pawar , Commerce Minister Anand Sharma and Food Minister K V Thomas. "Sugar was...
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UN agency on ‘red alert’ as soaring food prices threaten millions of world’s poorest
Record high food prices are putting added pressure on the United Nations agency that helps feed nearly 100 million of the world’s poorest people, with officials warning of a potential “perfect storm” combination of soaring costs, weather emergencies and political instability. “We are on red alert and we are continually assessing needs and reassessing plans and stand ready to assist,” UN World Food Programme (WFP) Executive Director Josette Sheeran told the...
More »Food prices push millions into poverty by Howard Schneider
Rising food prices pushed tens of millions of people into extreme poverty last year and are reaching "dangerous levels" in some countries, World Bank President Robert Zoellick said Tuesday as he released new data showing that the cost of grain and other staples is near a historic high. The costs of some key commodities such as wheat have doubled in the past year, and a World Bank index of overall food...
More »Foodgrains output will be marginally lower than best by Gargi Parsai
With higher sowing of wheat, pulses, sugarcane, cotton and oilseeds reported this rabi season, there are expectations of a bumper crop production this year. The total food grains output is expected to be 232.07 million tonnes, which is only marginally lower than the record production of 234.47 million tonnes in 2008-09. Announcing the second advance estimates of food grains production for the 2010-11 crop year last week, Union Agriculture Minister Sharad Pawar...
More »Wheat Hoarding Likely to Be `Widespread,' Prompting Price Gains, UN Says by Luzi Ann Javier
Global wheat harvests may trail demand for a second year, spurring hoarding and further price gains, said the United Nations. “Whenever you get the market as tight as we are now, hoarding becomes widespread,” Abdolreza Abbassian, a senior economist at the UN Food and Agriculture Organization, said in an interview by phone from Rome. Wheat, corn and soybeans soared to the highest levels since 2008 yesterday as a U.S. government report showed...
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