-The Independent Drought is good for business, says Glencore chief The United Nations, aid agencies and the British Government have lined up to attack the world's largest commodities trading company, Glencore, after it described the current global food crisis and soaring world prices as a "good" business opportunity. With the US experiencing a rerun of the drought "Dust Bowl" days of the 1930s and Russia suffering a similar food crisis that could see...

-Frontline A recession-hit world is only just waking up to the prospect of the coming food crisis resulting in a period of political turmoil with unexpected consequences.  For the third time in five years, the world is braced for another food crisis. Bad weather conditions are leading to projections of major production shortfalls in some of the world’s leading food suppliers. Substantially reduced access and sharp price increases are, therefore, expected to...

-The Economic Times India's rice exports are likely to jump as much as 15% this year after the government scrapped the minimum export price (MEP) of $700 per tonne. "India's annual basmati exports will surpass last year's figure in the current fiscal," said Sumeet Saluja, managing director, Whitefields Overseas, which markets basmati under the brand name India Crown. Total rice shipments, including basmati and non-basmati, were 7.3 million tonne in 2011-12. Of this,...

-The Economic Times The government may ban wheat exports by private traders under open general licence despite having enough stocks to feed the country for two years due to concerns about high global prices and the drought-like situation back home that has triggered a 20% rise in wheat futures in a month. "There are chances that private traders may divert all the available wheat in the market -- released at subsidised rates...

-The Hindustan Times Although some detailed exposés of India’s nefarious role in purchasing or leasing agricultural land in other countries — notably in Africa — have been surfacing in the last few years, the full picture of what some critics term a land grab and new form of colonialism has only emerged during the Rio+20 environmental meet in June. The Washington DC-based think tank, the Worldwatch Institute, released a report based...