India's annual food inflation edged up for the second week, rising to 16.49% for the week ended May 8 as shown by the official data released on Thursday. The food inflation stood at 16.44% the previous week, up from 16.04% for the week ended April 24. Data on the wholesale price index (WPI) released by the commerce and industry ministry showed that food inflation rose though the index for this...

With expectations of a record wheat production this year (2009-10), the Union government is upbeat about providing food grains to the Below Poverty Line (BPL) families on a sustained basis under the proposed National Food Security Bill. “Despite the drought caused by (-) 23 per cent rainfall during the kharif season this year, farmers have maintained a production of 170.29 million tonnes of rice and wheat… which calls for satisfaction. With...

The Food Security Bill is unlikely to see the light of the day this fiscal. According to agriculture minister Sharad Pawar, though the UPA government is committed to providing food security to all, the below poverty line (BPL) math and elaborate procedure required to draft this law will take another 8-10 months. Speaking in the capital on Thursday, Pawar said: “The procedure involves incorporation of statistics from Planning Commission about BPL...

Bizarre are the ways of the government when it comes to managing, or mismanaging, the country’s food economy. On the one hand, it goes on mopping up bulk of the wheat and rice arriving in the mandis to build up its grain stocks, clearly to prevent foodgrain prices from falling below the minimum support price (MSP) level. On the other hand, it plans to offload 3 million tonnes of wheat...

The Centre will allocate additional quantities of wheat and rice for ration card holders at rates lower than the minimum support price (MSP), but higher that the issue price, under the public distribution system. The allocations would be made from June. At the same time, the government on Wednesday allowed export of wheat products like rava, sooji and maida, much in demand by expatriate Indians, for a year till March 31,...