In early April, the government was sitting on a pile of 44 mt of wheat and rice, more than double of what is required for maintaining the buffer stock Every three or four years, India witnesses a boom-and-bust cycle in agriculture. In the trough, prices hot up and imports of foodgrains become necessary. At the crest, all that is forgotten, there is talk of exports and life moves on. Any thought...
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Securing food for an emerging India by Rana Kapoor
The world population is estimated to reach nine billion by 2050. The Food and Agriculture Organisation (FAO) estimates that global food production needs to increase 70 per cent by 2050 compared to average 2005-07 levels to feed the rising global population. Clearly, a large part of the consumption will happen in India and China; which would require an additional 1.6 billion hectares of land to be brought into cultivation compared to...
More »Govt approves Rs 5,000 cr working capital loan for FCI
The government on Tuesday approved a short-term loan of Rs 5,000 crore for Food Corporation of India (FCI), which will help the organisation meet its working capital requirements this fiscal. The proposal was cleared in the meeting of the Cabinet Committee on Economic Affairs (CCEA) held here. "The CCEA today approved a short-term loan of Rs 5,000 crore to the FCI for 2010-11," an official statement said. FCI, the nodal agency for...
More »‘Yes, storage, sub-standard grain are problems'
The government on Thursday admitted to problems in storage as well as supply of sub-standard foodgrains to the poor after senior Communist Party of India (Marxist) leader Brinda Karat expressed serious concern in the Rajya Sabha over grain rotting. “I do admit,” Finance Minister Pranab Mukherjee said after Ms. Karat charged the government with supplying rotten foodgrains to remote tribal areas. She showed samples of spoiled wheat and rice in the...
More »India's overflowing grain bins may lead to crisis, warns key farm panel by Rishi Shah
A key government panel has warned that the country's overflowing grain bins will lead to a crisis if the government did not come up with a plan to dispose of the stored grain . The Commission for Agricultural Costs and Prices (CACP) painted the grim picture in a presentation to Prime Minister Manmohan Singh last week. It said the Centre, which is the biggest buyer of grain in the country, was sitting...
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