Russia is the world's second largest producer of barley after the EU and the cereal crop is used by many farmers as animal feed. Shoppers could see the cost of the meat and poultry in their baskets rise as the price of barley has more than doubled over the past six weeks due to continued fears over the drought affecting Russia and Ukraine. Russia is the world's second largest producer of barley...
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Wheat rises, food shares fall on Russia export ban
Wheat prices surged to a two-year high while shares in European brewers and food producers fell on Friday as markets reacted to the sudden imposition of a ban on grain exports from drought-hit Russia. Russian Prime Minister Vladimir Putin moved decisively on Thursday to halt exports of grain and flour from August 15 to the end of the year and the country’s railroad monopoly said on Friday it will stop loading...
More »We've reined in food inflation: Pranab
Finance Minister Pranab Mukherjee on Thursday countered the Opposition attack that the government's policies resulted in price rise and said the steps it took resulted in food inflation coming down. Replying to the debate on the motion on price rise, he said additional revenue measures were also taken to bring down the fiscal deficit and keep the economy in a better shape. The Rajya Sabha later unanimously adopted the motion: “This House...
More »Wheat prices soar as Russia suspends exports by G Chandrashekhar
Russia has announced a temporary ban on wheat exports. This is of course not entirely unanticipated. Today, soon after the Russian Prime Minister reportedly announced a temporary grain export ban, prices were seen rising further. Drought conditions have threatened Russian wheat harvest. From record 63.7 million tonnes in 2008-09, wheat production declined by two million tonnes the following year. Drought is now threatening to pull output down to around 50 mt. Russia's wheat exports...
More »Half of India’s population lives below the poverty line by Arun Kumar
According to a new Oxford University study, 55 percent of India’s population of 1.1 billion, or 645 million people, are living in poverty. Using a newly-developed index, the study found that about one-third of the world’s poor live in India. The Multidimensional Poverty Index (MPI) has been developed by the Oxford Poverty and Human Development Initiative and the United Nations Development Program (UNDP) as a more precise and comprehensive means of...
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