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kennocha
Posts : 103
Join date : 2023-04-18

Why India's soaring food inflation is a global problem. Empty Why India's soaring food inflation is a global problem.

Thu Aug 31, 2023 4:50 am
Erratic climate conditions - including the driest August in more than a century - have sent food prices spiralling above 11% in India, which is a major player in global agri-trade.

Just as tomato prices begin cooling down, onions have gotten dearer by a quarter since June in the domestic market. And pulses which go into making the humble dal (lentil soup) are now around 20% more expensive than at the beginning of the year.

India's got a "curry problem", some economists say, as the cost of a regular vegetarian meal jumped by a third in the month of July alone.

With some key state elections this year and a big general election looming next summer, the Indian government has swung into action, unleashing a number of measures to tame food inflation.

Following a ban on wheat in May 2022, India announced an abrupt stop to non-basmati white rice exports last month. More recently, the finance ministry imposed a duty of 40% on onions to discourage exports and improve domestic supplies.

With sugar production expected to be lower this year, "the likelihood of a ban on sugar exports has also increased", according to Rajni Sinha, chief economist at CareEdge Group.

The government could step up its response with further measures going ahead, analysts say. For instance, since the consecutive export restrictions on rice have not yet lowered domestic rice price inflation, "the government could seek a more comprehensive ban", global brokerage Nomura said in a recent note.

So does India, with its aggressive defence of domestic prices, run the risk of exporting food inflation to the world?
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kennocha
Posts : 103
Join date : 2023-04-18

Why India's soaring food inflation is a global problem. Empty Fresh search for victims in South Africa.

Fri Sep 01, 2023 4:45 am
South African firefighters have gone back inside the Johannesburg building destroyed by fire on Thursday to see if they can find any more bodies.

The blaze, in the overcrowded and condemned five-storey building, claimed 74 lives, including 12 children.

The fire service says it wants to be sure that no-one has been left behind.

The cause of the fire remains unknown but forensic investigators are also at the site picking through the charred remains of the burnt-out building.

Relatives who believe that family members may have been among the victims of the fire have been asked to visit the mortuary to help identify the bodies.

Visiting the scene in central Johannesburg on Thursday evening, President Cyril Ramaphosa called the tragedy a "wake-up call for us to begin to address the situation of housing in the inner city".
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