Food Crisis

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Food Crisis Worldwide

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India
December 2010

Prices of onions had more than doubled in the past week due to a shortage caused by unusually heavy rain in growing areas.

The agriculture ministry on Monday banned exports until Jan 15, and will import onions from Pakistan, as retail prices jumped to 80 rupees ($1.77) per kg from 35 rupees per kg last week, media reported.

source : timesofindia.indiatimes.com
December 21, 2010


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Sri Lanka
Oct 23, 2010 (LBO)

Sri Lanka coconut prices hit new highs amid trade protection

Sri Lanka's fresh coconut prices hit a new high at this week's auction in Colombo, compounded by state interventions that restrict trade and keep prices of substitutes at higher than global levels.

In Sri Lanka staple food supplies are insecure because of heavy state intervention in markets, and prices can also be more volatile as well as higher than the rest of the world.

The high volatility in coconut prices comes from state interventions that block market forces from working due to excessive agriculture protection.

Because of high import taxes even rice, a staple food, can shoot up above world market prices. Meanwhile the state also blocks access to close substitutes like wheat with high import duties.
Sri Lanka's poultry farmers have also been hit by high prices of maize, which is a key feed ingredient as imports have been blocked to 'help maize farmers.'

Protein prices including fish are now at record highs. Sri Lanka's city retail shops even ran out of chicken amid price controls a few months ago, a phenomenon not seen since the 1970s.

Coconut is another staple whose prices are high and volatile due to taxes on close substitutes.
source : www.lankabusinessonline.com



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