Edible oil prices soared almost 10%-Rs 6 to 8 per kg-in the last one month, piling up pressure on the already vulnerable food inflation. Palm oil, which accounts for nearly half of India's refined oil consumption, went up Rs 10 per kg following a sharp rally in international markets. India imported about eight million tonne, or half of its domestic vegetable oil requirement, last year. A weakening rupee has been another...
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India has no plans to buy farmland abroad: Pawar
-Reuters The Indian government has no plans to buy farmland abroad or help private companies do so, agriculture minister Sharad Pawar said on Monday, after a local media report said New Delhi was debating the issue. “There is no government proposal. The ministry has not taken up this proposal,” Pawar told reporters. The Economic Times had in its Monday edition quoted the ministry’s top civil servant, farm secretary P K Basu, saying it...
More »Food Security: Government mulls private purchase of farm land abroad by Dheeraj Tiwari & Rituraj Tiwari
The government has decided to throw its might behind private purchases of farm land overseas to ensure food security for India. The agriculture ministry has sought views from other ministries on an institutional mechanism to extend sovereign support to India Inc's acquisition of farm land abroad that could include guaranteed buyback of harvest from the cultivation overseas. Agriculture secretary PK Basu said that the proposal is in a nascent stage. "We had...
More »Food security: Delivering the promise efficiently by Ashok Gulati, Jyoti Gujral & T Nanda Kumar
To banish hunger and malnutrition from the country, Parliament is likely to pass the National Food Security Bill (NFSB). In our earlier article on this issue, Can we Afford Rs 6-Lakh-Cr Food Subsidy Bill in 3 Yrs? (ET, December 17, 2011), we concentrated on the likely financial implication that we estimated at roughly Rs 6,00,000 crore over a period of three years. In this piece, we address the operational challenges...
More »Rural incomes to rise when fewer work for farm: Secretary by Nidhi Nath Srinivas
Downplaying the impact of drought in three states on national food production, agriculture and cooperation secretary Prabeer Kumar Basu says the number of people dependent on agriculture has to come down for rural incomes to rise. "We have sent our team for an assessment of the situation. None of this will affect overall production because it will be compensated by the rest of India where crop conditions are excellent. We will...
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