Soaring Food Prices, Alarm Bells Ring

The last two decades have witnessed relative food security throughout the world, with exception of some African countries as trouble spots because of droughts and famines. India also, by the Grace of Allah, has been blessed with favourable monsoon for the last 12 consecutive years. It resulted in a long period of complacence on food…

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June 17, 2022
The last two decades have witnessed relative food security throughout the world, with exception of some African countries as trouble spots because of droughts and famines. India also, by the Grace of Allah, has been blessed with favourable monsoon for the last 12 consecutive years. It resulted in a long period of complacence on food front. But the present world food indicators and ground realities inside India have given rise to grave apprehensions and made the alarm bells ring loudly.
Already our so-called enlightened world is plagued with widespread injustice, conflicts, wars, exploitation of poor nations and poor sections and ever-widening poor-rich divide. Every year precious resources worth over 1000 billion dollars are being washed on arms and military preparations in the name of defence. More than one third of the world population of 670 crore earns and spends less than Rs 80 a day per person. This means that more than one third of human beings are condemned to suffer below poverty line with serious damage to their human dignity and status. This is the most serious challenge the modern civilization faces in spite of its claims of providing equality and protecting human rights.
According to the World Bank, in the US people spend 15 per cent of their income on food. It would not mean much to them if food prices increase. But in Asian countries, especially in densely populated countries like India, Indonesia, Pakistan, Bangladesh, Vietnam, and in China also, poor people spend 31 to 50 per cent of their income on food. Soaring food prices have already started hitting hard large sections of population in poor countries. Already, there were food riots in recent months, in Guiana, Mauritania, Mexico, Morocco, Uzbekistan and Yemen.
Slow down of US economy and stagnation of economic growth in European countries has adversely affected the Asian economies. Inflation is steadily increasing. Expatriates from Indian and other poor countries working in Gulf countries have already started feeling the pinch as it is eroding their income and has depleted the amounts they were sending back home to their families. Experts predict that the present spell of inflation may continue for a longer period than expected. It may lead to resentment among people and destabilise governments in several Asian and African countries.
India is home to 114 crore people, about 30 per cent of them falling in below poverty category. There has been an unusual degree of back-breaking inflation and alarming rise in prices of essential commodities and food items, especially the basic staples. The poorer sections are bearing the brunt of the situation. Prices of rice, wheat, oil, pulses and sugar have registered unprecedented increase. Resentment and unease is brewing. The government must take corrective steps without delay. Like rice, the export of wheat also should be banned. Already we committed the blunder of wheat export. Free movement and easy availability of staples must be ensured. No room should be given for hoarding. Buffer stock must be strengthened. And finally agriculture sector should be given the primacy and encouragement which it deserves. We cannot afford to be complacent on food front which has the potential to destabilise our economic growth and spell trouble.