-The Financial Express The Cabinet is likely to consider the National Food Security Bill which envisages subsidised foodgrain as legal entitlement for two third of the country's population on Tuesday. Once the Cabinet approves the bill, the food ministry will table in parliament during the current season. As per the food bill, 75% of the rural households will get subsidised grain and at least’ 46% households would be considered as ‘priority’ category, and...
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Bullion dominates futures market, agriculture at 10% by Sidhartha
Policymakers have repeatedly said that commodity futures help farmers hedge their risks. But data from Forward Markets Commission (FMC), the regulator for the business worth Rs 106 lakh crore during April-October, paints a different picture. The share of agricultural trade is just a tad over 10% and within this, food products such as soya oil and chana accounted for less than 7% of the total value. Of course, the government itself...
More »Food prices remain steady during November, UN agency reports
-The United Nations Global food prices in November were virtually unchanged from October, and 10 per cent below their peak in February, the United Nations Food and Agriculture Organization (FAO) reported today. FAO’s Food Price Index level was 215 points last month – just two points, or one per cent, above its level in November 2010, according to a news release issued by the Rome-based agency. Cereal prices dropped by 3 points, or...
More »FDI in retail BJP's baby, we are trying to nurse it: Pranab
-The Times of India Taking a swipe at the BJP for not backing FDI in retail, finance minister Pranab Mukherjee on Thursday said the government was only trying to nurse the main opposition party's "baby" when it took the decision to allow FDI in retail. Replying to a debate in the Rajya Sabha on price rise, Mukherjee read from a 2004 interview of leader of opposition Arun Jaitley in which the senior...
More »India needs 30% of grains output for new food bill
-Reuters India is assuming grain purchases at around 30 percent of output in plans to expand its welfare programme, the food minister said, relying on increased yields and lower wastage to cover extra requirements and keeping exports on the agenda. "We have made the calculation (for the Food Security Bill) on the basis of the grains we can produce and procure. We will procure only 30 percent of our production, 70 percent...
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