After increasing slowly and steadily from historic lows, world rice prices tripled in just six months during 2007-08. The price surge caused much anxiety because so many of the world’s poor are rice consumers. And it caught many by surprise as market fundamentals were sound. Indeed, it was government policies, rather than changes in the production and consumption of rice, that drove the surge. This suggests that improved government policies...

Buoyed by bumper production estimates this year, Agriculture Minister Sharad Pawar today favoured export of certain commodities like non-basmati rice, sugar and onion to protect the interests of the farming community. “Generally we feel, we should take a total liberalised approach on export of certain items...Farmers are raising concern that prices of some commodities are going down,” Pawar told reporters here. Citing onion case as an example, Pawar said farmers, who were...

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...

The labour ministry may get about 36% more money under planned allocation in the Budget for the year starting 1 April to expand welfare programmes such as health insurance for the poor. “We are getting Rs. 1,300 crore under planned allocation in the coming Budget,” labour secretary Prabhat Chaturvedi said. The ministry was allocated Rs. 956 crore under the same Plan in the current year’s budget allocation. The labour ministry will also...

The promise made by UPA II that it will ensure food security for Indians through legislation that guarantees the Right to Food seems, in its view, to have been an error. In a multi-stage process that reflects the pulls and pressures within the policy-making elite, the Food Security Bill has been diluted so much that it marks a reversal rather than an advance compared to the status quo. Let us...