The empowered group of ministers (EGoM) expected to meet on Monday is expected to take a view on an agriculture ministry proposal to export wheat and rice. The proposal is not backed by the food ministry, which wants to take into consideration the interest of consumers, and its own compulsions under the proposed food security bill, before moving on exports under an open general licence. Officials said the food ministry is...

Bumper wheat crop poses new headaches Paradox Of Plenty     * Wheat projection of 84.27 million tonnes hit mandi prices     * Farmers await price revival; govt buys much below last year     * Wait for eGoM on exports as global demand, prices are higher     * Govt storage capacity already tight; fear of damage prevails     * Food security scheme launch to raise stock requirements *** It’s been a nerve-racking week for Brijesh Singh. The 34-year-old...

According to the third advance estimate, India’s foodgrain production in the current farm year (to end in June 2011) will be a record 235.88 million tonnes, including an all-time high wheat output of 84.27 million tonnes against 81.47 million tonnes projected earlier. Ahead of the wheat harvest, the country had buffer foodgrain stock of 47 million tonnes at the start of 2011 in the central pool. A buffer close to double...

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...

High food prices prevented more than 19 million people in the Asia-Pacific region from lifting themselves out of poverty last year, the United Nations said in a new study released today, warning that soaring food and fuel inflation will keep large sections of the region’s population below the poverty threshold. The assessment by the UN Economic and Social Commission for Asia and the Pacific (ESCAP) says that rising food prices can...