Daily Archives

November 17, 2012

Clouds on horizon for tobacco farmers

November 15, 2012 By Errol Barnett and Teo Kermeliotis Government officials and health experts from around the world are meeting this week in South Korea to discuss a series of proposals that could put restrictions on tobacco growing. The fifth session of the World Health Organization Framework Convention on Tobacco Control (WHO FCTC) is taking place in Seoul, where representatives from over 170 international parties will focus on reducing the demand for tobacco. High up the…

Beef tongue recalled, tonsils possibly still attached

November 10, 2012 The United States Department of Agriculture's Food Safety and Inspection Service announced Friday that Black Earth Meat Market Inc. is recalling approximately 99 pounds of beef tongue products because they may not have had the tonsils completely removed. Regulations require that cattle of all ages must have their tonsils removed, as they are a specified risk material: tissues that are known to contain the infective agent in cattle infected with Bovine Spongiform…

How Africa could feed the world

By Olusegun Obasanjo November 17, 2012 Editor’s note: Olusegun Obasanjo is a former president of Nigeria and a member of the Africa Progress Panel, chaired by Kofi Annan. The views expressed are the author’s own. Images of starving children, epitomised in news coverage from Ethiopia in the 1980s, have given Africa a reputation for famine that does an injustice to the continent’s potential. It’s true that a recent report by three U.N. agencies said nearly 239 million in Africa are…

Move to revive fertilizer industry, agriculture

Tariq Khattak November 17, 2012 Islamabad—After spending over 1.2 billion dollars on importing over 2.2 million tons of urea from January 2011 to June 2012 and also offering over 60 billion rupees of subsidy on imported urea, Ministry of Finance is concerned about the increasing urea import bill which is becoming more expensive an option than importing diesel and furnace oil. Sources claimed that the decision to not to import further 3 lakh tons of urea for the current sowing season is…

India predicted to take over as world’s top rice exporter

November 17, 2012 India’s global rice exports could top 10 million tonnes in the fiscal year ending next March, industry officials said Thursday. Thailand, the world’s No. 1 rice exporter, is in danger of losing its top position for the first time since 1983 because of a government intervention scheme that has pushed Thai export prices up to uncompetitive levels. Forecasts from the the United States Department of Agriculture (USDA) show that India, which resumed exports in September…

Higher potatoes, wheat flour, milk prices push SPI up

ISLAMABAD: The increase in prices of potatoes, wheat flour and fresh milk during the previous week has led to an increase in sensitive price index (SPI) mainly for the lowest income group. The combined SPI for the week ending on Thursday (November 15, 2012), improved marginally by 0.06 percent as compared to the previous week, however the lowest income group earning up to Rs 8,000 per month, faced the wrath of weekly based inflation with an increase of 0.10 percent as compared to the…

Uncompetitive Pakistani wheat prices halt export

By Tanveer Sher KARACHI: Owing to uncompetitive rates of Pakistani wheat in the international market, the export of the commodity fizzled out thus bringing the process to a virtual halt. Compared to Pakistani wheat, which is currently priced at $320 to $325 per metric tonne, the commodity is available in India at $290 to $300 per tonne, US and Australia at $280 to $285 per tonne and Ukraine at $225 to $240 per tonne. Pakistani wheat was priced at around $275 to $280 per metric…

Spot rate slightly up amid modest trading on cotton market

November 17, 2012 Trading activity slowed down on the cotton market Friday in the absence of fresh demand by mills and spinners, dealers said. Official spot rate inched up by Rs 25 to Rs 5,925, they said. Approximately, 16,000 bales of cotton changed hands between Rs 5700-6200, they said. Prices of seedcotton (phutti) in Sindh were at Rs 2650-2850, in Punjab rates were at Rs 2600-2950, they said. In the absences of fresh leads, the mills and spinners did not show so much…

Extortion in wholesale markets: no relief in sight for tea consumers

November 17, 2012 MOHAMMAD BILAL TAHIR There is no relief for consumers despite a substantial decline in tax rate on tea import because of a high incidence of extortion, market sources said here on Friday. According to major tea traders, the prevailing law and order situation is not only making the lives of the business community miserable, it is also creating problems for the common man. According to market sources, extortionists were collecting Rs 1,500 'protection…

Grain futures weaken

November 17, 2012 US grain futures weakened on Thursday, as expectations for an increase in global supply and concerns about the economy halted a two-day advance in soyabeans. Soyabeans had closed higher for the previous two days in a modest rebound from a drop to 4-1/2-month lows intraday on Tuesday. Expanding supply forecasts have weighed on the soya market since the US Department of Agriculture, in a crop report on Friday, made a surprisingly big increase to its estimate…

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