-Reuters Global food prices rose in February from the previous month, driven by gains in grains, vegetable Oils and sugar, the United Nations' FAO index showed on Thursday, adding inflationary pressure. The index, which measures monthly price changes for a food basket of cereals, Oilseeds, dairy, meat and sugar, averaged 215.3 points in February, up from a revised 212.8 points in January, data from the Food and Agriculture Organisation (FAO) showed. The FAO...
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Near-record wheat production expected this year
-FAO FAO today forecast that 2012 world wheat production will be the second highest on record at 690 million tonnes and also announced that international food prices rose one percent in February — the second increase in two months. Published today, FAO’s quarterly Crop Prospects and Food Situation report forecast a 2012 wheat crop 10 million tonnes or 1.4 percent down from the record 2011 harvest but still well above the average...
More »Government subsidy burden at 10-year high
-IANS The Indian government's subsidy burden is expected to reach 2.5 percent of the country's gross domestic product (GDP) for the fiscal ending March 31, the highest in 10 years, due to higher price of crude Oil and other commodities, a report showed Tuesday. The total subsidy is expected to increase to Rs.2,23,000 crore in the current financial year, which is 2.5 percent of GDP at the current market price which is...
More »Steep petrol price hike in the offing?
-The Times of India With elections in five states out of the way, the government-run fuel retailers on Monday ratcheted up their demand for an increase in petrol prices by as much as Rs 5 a litre. The demand could leave the government with a political cleft stick, coming on the day Congress received a severe drubbing in the assembly polls. Piling losses of state-run firms appear to leave little choice for...
More »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...
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