As food prices rose for the seventh month in a row in January, contributing to recent popular unrest in the Middle East and a spike in commodities purchases by developing countries last week, some analysts are quick to make comparisons to the dry years of 2007-2008. But others warn against panic and oversimplified predictions of an impending food crisis, which contribute to price volatility. "It is important to underline – and we've...
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Pitch forking the farmer into the marketplace by Shailendra Sinha
The face of agriculture in India is changing fast. It needs to become not only sustainable but also profitable for farmers especially the young to stay on the land and cultivate it. The farmers must understand how markets respond to agricultural produce. He should not stop by spending all his life's energy and resources on creating the agricultural produce, but should know how to get good returns for his efforts. This is...
More »High food prices forcing Indians to cut other spending, says Nielsen
THE boom in demand for apparel and mobile phones may soon be over as Indians plan to spend less on fun and entertainment to deal with rising food prices, a Nielsen study says. Indian consumers are extremely cautious about rising food prices and a sizeable section may defer purchases by 6-12 months, says the latest Nielsen global consumer confidence index released on Monday. Some companies, including LG Electronics and Future Group, agreed...
More »Rural job plan turns 5, but wages need to grow more by Prasad Nichenametla
The Mahatma Gandhi National Rural Employment Guarantee Act, UPA’s flagship aam admi scheme, turns five on Wednesday. However, more than 30% of the rural India working under the right-to-work act would continue to receive wages below the guaranteed minimum as per the minimum wages act. On January 14, the ministry of rural development issued a notification revising the wage rates under the MNREGA from Rs 100 per day to between...
More »Global food prices rise to new highs, not expected to fall in coming months – UN
Food prices around the world surged to a new historic peak in January, for the seventh consecutive month, the United Nations Food and Agriculture Organization (FAO) reported today, adding that the prices are not likely to decline in the months ahead. According to the FAO, its latest Food Price Index, a commodity basket that tracks monthly changes in global food prices, averaged 231 points in January and was up 3.4 per...
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