The class bias in government policy is clear in the decision to release a small amount of foodgrain in the open market to tackle inflation. MOST people would agree that there is a strong element of speculation underlying the current inflation and that forward trading contributes to it. Yet the government, though it has banned forward trading in certain commodities under public pressure, is curiously reluctant to see this point....

The present situation is different from that of 2007-2008, although recent climatic events may significantly reduce agricultural production next season. Must history always repeat itself? We are indeed on the verge of what could turn out to be another major food crisis. The FAO Food Price Index at the end of 2010 returned to its highest level. Drought in Russia and the export restrictions adopted by the government, together with...

In India, people are upset about onions. Expensive cooking oil is causing hoarding in China, a practice banned by the government. Meanwhile, flour and bread are the main source of riots in Algeria and now Jordan. Worries over food prices are gathering pace and triggering alarm among politicians across the world. For there is nothing more likely to bring down a government than ignoring starving citizens, as Marie Antoinette found to...

The Communist Party of India (Marxist) has described 2010 as a landmark year in Independent India's history in terms of the number of scams. In an editorial in the People's Democracy, party organ, it drew attention to the several disquieting trends that have emerged as a result. The year stood out as one which saw a serious attack on Parliament and the institutions of parliamentary democracy. Apart from the virtual annulling...

International prices of most agricultural commodities are on the rise again. Prices of major food crops have increased disconcertingly, with wheat, rice, maize and soybean registering double-digit increases between June and October. Wheat prices increased alarmingly by more than 71%, while maize recorded a more than 50% spike. The Food Price Index released by the Food and Agriculture Organization (FAO), the most widely accepted barometer for food prices, also painted...