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...

It is time for us to take a hard look at our agricultural system. We are not yet reliving the Food crisis of 2007-08 , but food prices are surging, with global prices for wheat and maize rising by 75% and 60%, respectively, from June to December 2010. Meanwhile, nearly 1 billion people worldwide are going hungry. The obvious solution to many of our food-related ills is to accelerate agricultural growth....

THE WORLD BANK IN INDIA - Undermining Sovereignty, Distorting Development: Edited by Michele Kelley, Deepika D'Souza; Orient Blackswan, 3-6-752, Himayatnagar, Hyderabad-500029. Rs. 895. This book is a collection of essays covering an array of economic issues ranging from agriculture, poverty, food security, power, water, to governance, environment impact and sustainability of growth, and the impact of the World Bank on them. Even a cursory reading would show that it is a...

Inflation in vegetables to come down to 7% by March Modernisation of agricultural marketing is important when dealing with inflation in the long run, Montek Singh Ahluwalia, deputy chairman of the planning commission, said here today. “The present system of intermediation is high costs and an efficient supply chain. Stress has to be laid on ensuring that farmers are able to realize higher margins, while consumers are able to get cheaper commodities”,...

Regulation in India's microfinance sector aims to address feckless borrowing and reckless lending – but will the new restrictions entrench poverty, rather than end it? One of the many crushing burdens for India's poor bear is debt; unable to make ends meet, they turn to traditional moneylenders. They are willing to extend credit, but at unconscionably high rates – sometimes exceeding 80%, and keeping borrowers in lifelong penury. Popular cinema and...