-The Times of India Stocking up of foodgrains by the government could be one of the major factors for the continuing surge in food prices, warn experts. Latest wholesale price data available on the industry department's website shows that wheat prices are up almost 20% in October compared to a year ago. That's at a time when the government is holding stocks of 42 million tonnes — three times the buffer stock...
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A futures shock from FCI-Devinder Sharma
-The Business Standard Turning the country's food procurement agency into an international trader will fan inflation and hunger At a time when the Global Hunger Index 2012 ranks India 65th among 79 countries, K V Thomas, minister of state for food and public distribution and consumer affairs, has revealed that the Food Corporation of India (FCI) will soon trade wheat in the futures market. Seeking clearance from the Forward Markets Commission, the...
More »Like US, agriculture ministry needs a wing to collate dependable farm data-Tejinder Narang
-The Economic Times The fear of drought in India has abated with late precipitation of the monsoon in September this year. However, the country continues to suffer from a drought of formalised tabulated data of agro items on a real-time or monthly basis, though many estimates continue to fatigue the print and electronic media. Red or green prices flashing on computer screens are taken for 'granted', but the discovery of future or...
More »Foodgrains Output Likely to Drop: Pawar
-Outlook Foodgrains production in 2012-13 will be lower than last year's record output of 257.44 million tonnes but availability would be sufficient to meet domestic demand, Agriculture Minister Sharad Pawar said today. Addressing the Economic Editors Conference, he said the government would make efforts to compensate the projected fall in kharif foodgrains output during the ongoing rabi season. "This year, production will definitely be less than last year. Last year was exceptional year,...
More »UN reports slight increase in food prices, warns of decline in global cereal harvest
-The United Nations The United Nations today reported that global food prices slightly increased in September after two months of stability, and warned that despite increased cereal production in low income countries, global harvest of this commodity is expected to decrease this year. During September, the UN Food and Agriculture Organization’s (FAO) Food Price Index rose by 1.4 per cent from its level in August. The rise to 216 points from 213...
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