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kishorejets May 08 , 2008 ,09:42 IST
Food prices are rising largely because of political issues in the West. Short-term, its the lunatic subsidy for biofuels. Long-term issues are trade-related subsidies for agriculture which make no sense now that prices have risen so much. In India, the protection of the small farm is the main problem. On balance, however, Indian politicians are justified in their feelings about the hypocrisy of the USA.
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kishorejets April 27 , 2008 ,00:47 IST
More things change the more they remain the same. Is the government responding to the food crisis any differently than it did in the 1950s? Yet again it is pandering to middle classes in urban areas by controlling prices when it should try to increase supply. Productivity in agriculture can be increased in known ways but the disastrous course it is taking by banning futures trading will make things worse.
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