The Hindu : Karnataka / Bangalore News : Oil prices affecting wheat production

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Sunday, Feb 10, 2008
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Karnataka

Karnataka - Bangalore

Oil prices affecting wheat production

Special Correspondent

Industry urged to support farmers

Wheat production has fallen world over, says official
Spot exchange for commodity trade mooted

BANGALORE: The Centre has called upon the wheat industry to work closely with farmers to increase grain production and stabilise the prices which were volatile on account of fluctuating international crude oil price.

Speaking at the valedictory function of the international seminar on “Wheat and wheat products – Vision 2020” here on Saturday, T. Nandakumar, Secretary, Union Ministry of Consumer Affairs and Public Distribution, said the sugar industry had been cooperating with the farmers in several States and there was increase in cane production.

“The farmers will be happy if flour mills owners lend support to farmers by offering high prices.”

Some kind of module had to be developed for active participation of the agro-industry in the farming sector, particularly wheat, he said.

The farm sector had been affected by fluctuating prices in the global market and climate changes. Noting that fuel price issue was a major problem for agriculture, Mr. Nandakumar said forecasting wheat production was a difficult task. The global wheat production was 602 million tonnes on account of drought in Australia and erratic climate in Europe. However, there was no compromise on ensuring food security to the poor, he said.

“Our wheat stock is comfortable because of reasonably good crop this year,” the official said and asked the industry captains to adopt public-private partnership model in wheat storing and management. The country’s wheat production was expected to touch 75 million tonnes this year.

Sanjay Kaul, Director and Chief Executive Officer of National Commodity and Derivatives Exchange, said time had come to assess the relevance of Agriculture Produce Marketing Committee (APMC) Act and stressed the need for adoption of spot exchange system for commodity trade. Innovations in information technology could be utilised for electronic transactions which would enhance transparency in trade.

P.G. Chengappa, Vice-Chancellor, University of Agricultural Sciences, Bangalore; S.K. Nanda, Secretary, Food and Civil Supplies Department, Gujarat, and Veena Shatruguna, Deputy Director, National Institute of Nutrition, Hyderabad, spoke.

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