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....

Prime Minister Manmohan Singh on Friday asked States to consider waiving mandi taxes, octroi and local taxes for taming inflation, which affected the poor “harder” and posed a serious threat to the country's growth momentum. He said much of the responsibility for checking price rise lay with the States. “Much of what needs to be done... lies in the domain of State governments... There seems to be a strong case for waiving...

World food prices hit a new record high in January after rising for a seventh consecutive month, the UN's Food and Agriculture Organisation (FAO) said Thursday, warning the poor would be hit hardest. The FAO Food Price Index, which monitors monthly price changes for a basket of commodities, averaged 231 points in January -- up 3.4 percent from December and its highest level since FAO started measuring food prices in...

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

The heat generated by the high food inflation may force the government to go slow, or even drop, some of its key proposals to open up the country's food and fertiliser sectors, experts say. Decontrolling sugar and urea and freeing up some farm exports are some of the proposals the government may not touch in the coming days, they say. The proposal on foreign direct investment in multi-brand retail may also...