Heavy damages estimated for in cotton, chana, castor crop. Unseasonal rains in the state of Gujarat during September - November, 2010 has cost the state agriculture sector Rs 3,312 crore with key cash crops including groundnut, cotton, castor seed and pulses taking a major blow among other agriculture commodities. The state minister for agriculture, Dilip Sanghani on Thursday informed that as of December 31, 2010 the total damage to the state agriculture...

Global wheat harvests may trail demand for a second year, spurring hoarding and further price gains, said the United Nations. “Whenever you get the market as tight as we are now, hoarding becomes widespread,” Abdolreza Abbassian, a senior economist at the UN Food and Agriculture Organization, said in an interview by phone from Rome. Wheat, corn and Soybeans soared to the highest levels since 2008 yesterday as a U.S. government report showed...

After increasing slowly and steadily from historic lows, world rice prices tripled in just six months during 2007-08. The price surge caused much anxiety because so many of the world’s poor are rice consumers. And it caught many by surprise as market fundamentals were sound. Indeed, it was government policies, rather than changes in the production and consumption of rice, that drove the surge. This suggests that improved government policies...

India’s negotiating strategy on agriculture at the World Trade Organisation (WTO) seems to be moving from a defensive to a more engaging position with the release of two interesting discussion papers by the Centre of WTO Studies of the Indian Institute of Foreign Trade (IIFT). The two studies that were released by India’s chief negotiator at the WTO this week are a signal that India may now move towards seeking answers...

Fast-growing emerging nations are taking increasingly aggressive actions to beat back rising food prices as they grow more worried of threats to stability if prices don't start to retreat. Developing-market governments have unveiled a laundry list of measures—including price caps, export bans and rules to counter commodity speculation—to keep food costs from disrupting their economies as price spikes that some had hoped were temporary have stretched into the new year. Some...