-The United Nations Global food prices declined for the third consecutive month, largely driven by lower international prices for grains, soy and palm oil, while sugar, meat and dairy prices were also down, the United Nations Food and Agriculture Organization (FAO) reported today. The Rome-based agency said its Food Price Index averaged 205.9 points in July, which is 4 points below June and 7 points lower than in July 2012. The Index measures...

-The Hindu It deems key accused in Gujarat hooch tragedy unfit for bail Taking a serious view of the hooch tragedy in Gujarat, the Supreme Court said high courts and trial courts should show no leniency in granting of bail to accused in illicit liquor cases. The apex court cancelled bail to the key accused in the extant case, in which 147 persons died and 205 suffered serious health damage after consuming spurious...

-The Business Standard Govt pushes biofuels again, despite bitter experience The nearly decade-old programme to promote ethanol-blended petrol has failed to make much headway despite continued attempts by the government to get it going. The latest such attempt was last week, when the Cabinet Committee on Economic Affairs (CCEA) made the very poor decision to force oil marketing companies to mix five per cent ethanol with petrol throughout the country from...

Rising corn prices in the United States brought about by biofuel mandates have cost developing countries 6.6 billion dollars over the past six years, says a study by Global Development And Environment Institute at Tufts University (GDAE).  Net Food Importing Developing Countries, among the most vulnerable to food price increases, incurred ethanol-related costs of $2.1 billion, the study concludes. (See highlights and the links below). The recent spike in world food prices...

-The Hindu The World Bank has joined the chorus warning the world of an impending food crisis with damaging food price inflation. In its late-August edition of its Food Price Watch the Bank reported that global prices for food as reflected by its Food Price Index rose 10 per cent in July 2012 alone. The prices of staples such as corn and soya bean were at an all-time high that month,...