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...

The 2010 Seeds Bill that has been introduced in Parliament does address some of the major concerns in the aborted 2004 version, but strangely a number of important correctives – on regulation, consistency and punishment – that had been incorporated in the 2008 version (which lapsed in 2009) have now been modified or dropped altogether. What forces are pushing the government to act against the interests of India’s farmers? The third...

The National Advisory Council's move to restrict universalisation of the PDS to the most disadvantaged districts may ultimately end up limiting its impact. RECENT weeks have seen rather contradictory statements on the challenge of ensuring food security and the set of feasible initiatives for managing the food economy. To start with, the National Advisory Council (NAC), which recognises the need for a universal public distribution system (PDS), and which was expected to...

It is estimated that food grain worth Rs 60,000 crore have been left to rot. Who is responsible? This figure is highly exaggerated. According to a study by the agriculture ministry, only 0.004 percent of stored food grain are rotten. There were 11,708 tonnes of damaged and non-issuable food grain in Food Corporation of India (FCI) depots. However, the whole lot hasn’t become spoilt. This quantity has become non-issuable to...

Today, the Supreme Court of India will hear arguments in what is emerging as a national disgrace: One of the world’s largest stockpiles of foodgrain going to rot and rodent because the government lacks the vision, ability and commitment to either store it properly or distribute it to the poor. Let me recap what I reported on the front-page of this paper last month: About a third of India’s grain reserves,...