The United Nations Conference on Trade and Development (UNCTAD) today cautioned on rampant speculations in the global commodity markets which is fuelling unprecedented price hikes around the world, with worst effects on poor countries such as India. "Financial speculation in global commodities trade is a source for concern as it contributed to steep price hikes," UNCTAD's Secretary General Supachai Panitchpakdi said on the sidelines of a special meeting convened by UNCTAD...

Senior United Nations officials today called for urgent steps to rein in the rising prices for basic farm produce, petroleum and raw industrial materials whose volatility hits the world’s poorest people the hardest.     “Such volatility has huge negative impacts on vulnerable groups, such as low-income households in developing countries, for whom food expenditure can account for up to 80 per cent of household budgets,” UN Conference on Trade and Development...

Indian cotton was once infamously plundered by the British to benefit their finished goods economy back home. The world-famous Dhaka muslin were woven with desi cotton. But while the foreign regime kept the Indian cotton alive, albeit for its own gains, independent India presided over its complete decimation. However, after about 50 years of domination of American cotton that had edged out the desi varieties for long, the Indian Council of...

With a significant improvement in levels of major irrigation reservoirs in the state, thanks to a robust north-east monsoon, Tamil Nadu can look forward to a decent production of summer crops that can potentially arrest the rising prices of vegetables, pulses and food grains. And despite the power woes of farmers and shrinking area of farm lands in the wake of real estate growth, the state's agricultural yield seems to...

Export curbs during 2008 crisis ‘exacerbated' situation. The Food and Agriculture Organisation on Wednesday said short-term policy actions, especially curbs on exports, could have harmful effects in the longer term and even aggravate the situation. In statement put on its website, the organisation, a body of the United Nations, pointed out at the 2007-08 crisis in the global food market as an example of how such decision can exacerbate the situation...