A parliamentary standing committee has recently asked the government to introduce the national food security Bill in the winter session of the Lok Sabha. A promise to implement a Bill of this kind was first mooted in President Pratibha Patil's inaugural speech last year when she mentioned the government's intention to provide each family below the poverty line (BPL) with 25 kg of foodgrains a month at Rs 3 per...

Rubber growers and traders of Kerala are up in arms against the Union Government’s decision to slash the import duty of natural rubber to 7.5 per cent from 20 per cent. Economists, farmers and traders feel that Central decision would cause the biggest agricultural crisis of recent times. The steep cut in the import duty is sure to push the farmers and traders of Kerala, which accounts for more than 90...

The Union government has been widely criticised for letting foodgrain rot in its godowns, while food prices soar and millions remain underfed. In its defence the government has spoken about the fiscal cost of selling these stocks. However, the underlying problem of excessive procurement and overstocking of foodgrain has not received as much attention. The government has claimed that official agencies have been mopping up over 99.5 per cent market...

A Hamburg-based lab, Eurofins, has alleged high levels of pesticide residue in Indian rice, basmati and non basmati. This is likely to start a long-drawn legal battle and for the time being jeopardise around $300m in basmati exports alone to Europe. The first batch of legal correspondence from the grain traders, a precedent to formal legal action, will be exchanged with the Hamburg-based private testing firm, Eurofins and Dr Speck...

The rise in global wheat prices by almost 50% in less than two months as commodity markets factor in a sharp drop in exportable surplus has not touched India, among world’s biggest producers and consumers of wheat. What’s more surprising, domestic futures prices too are unlikely to show any appreciable rise, going by the trend in India’s commodity markets. Barring minor blips, August and September wheat futures at NCDEX, largest exchange for...