The ban by Indonesia, which accounts for a third of global edible oil exports, adds to a raft of crop protectionism around the world since the war erupted in Ukraine.
For India, food will be dearer in 2022. The tradeoff between high growth and high inflation is tricky, and RBI has the unenviable task of balancing it.
Rising food prices—a result of both Western sanctions on Russia and of the integration of national economies—have set the alarm bells ringing across Central Asian countries.
Ukraine and Russia together account for over a quarter of global trade of wheat. The war has closed major ports in Ukraine, and severed logistics and transport links.
In India, Modi govt is distributing free rice & wheat and has implemented trade measures to shield consumers, including cutting duties on palm, soybean, sunflower oils and lentils.
India’s delivery giants are finding there aren’t many models available that can be deployed at scale, and what supply there is can’t keep up with demand.
The May inflation figure may be somewhat inaccurate, with the rise appearing to be mainly due to higher global crude oil prices, commodity prices, and supply-side disruptions.
The rate of price rise in the food basket accelerated to 4.94% in March. Meanwhile, manufacturing sector output declined by 3.7% and mining output slipped 5.5% in February.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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