It's slowly dawning on the “stalwart agricultural and economic experts” in New Delhi, trained at the premier institutes that know how agriculture works better than farmers and agricultural scientists, i.e., the Harvard Kennedy School, the University of Chicago and the likes. They are realizing that Food security is a matter of national security and economy. And that at some level, though they are the elites, they are realizing they are still from India, and when they call for help from their buddies in DC or Brussels, it might go to the voicemail. Not that they know what they are doing about food security, they will be making a hash of it anyway.
The volatility in the grains futures markets in Singapore and Chicago, the staggering drop in crop yields, and inflationary pressure have all caused one of the largest price hikes for rice in India within a year.
The export ban is a way to stabilize prices and feed its people. India is still the country with the highest absolute number and percentage of malnourished children. Oh, also, there is an election coming up next year, no incumbent government (state or central) would like to be on the receiving end of getting voted out by angry starving masses. Democracy at work you know.
simon_brooke
BlackAzizAnansi