Pakistan food prices too high: UN

[Trisonics]

Pakistan food prices too high: UN

GENEVA: Pakistan’s government has pushed food prices too high for its impoverished population and malnutrition is rising despite crop recovery after dire floods, a UN relief official said Wednesday.

Food crops especially wheat in the southern plains hit by last year’s floods were recovering fast with the prospect of decent yields in coming weeks, said World Food Programme (WFP) director in Pakistan, Wolfgang Herbinger.

“The crop outlook is not bad but the food security situation remains difficult because prices remain so high,” he told journalists on the sidelines of humanitarian meetings in Geneva.

“The government is the biggest buyer of wheat in Pakistan they are setting the farm gate price and they dominate market,” Herbinger said.

“That’s why the wheat price in Pakistan didn’t adjust when, for example, in 2009 and early 2010 the wheat price had gone back a lot, it stayed high to the detriment of local consumers.”

People paid double the price for wheat compared to three years ago and the food security situation has “changed dramatically,” the WFP official added.

Malnutrition levels in the southern province of Sindh had reached 21 to 23 per cent, according to the agency.

“That is well above African standards. The emergency standard is 15 per cent,” the WFP official said.

A recent survey found that in some flood-hit areas 70 per cent of people were taking out loans to pay for food.

“You may have the country full with food but people are too poor to buy it,” he said.

The WFP was “struggling a bit” to get the message across, he said.

“We are working a lot with the ministry of agriculture to explain to the minister that it is not enough to have enough production in the country if people can’t afford it.”

“Maybe for political reasons he doesn’t always understand it, that it’s one thing to be nice to the farmers but if your consumers can’t afford it then it’s… So there’s something wrong with agricultural policy,” Herbinger added.

Massive floods caused by monsoon rains in July and August 2010 killed thousands, destroyed 1.7 million homes and damaged 5.4 million acres of arable land, experts have said.

Pakistan food prices too high: UN | Latest-News | DAWN.COM

 

[Mutee]

Yes that's true In my country poor is getting killed while the rich few getting more rich sad but true

 

[arihant]

Yes that's true In my country poor is getting killed while the rich few getting more rich sad but true

It's just not your country, it's mine too facing same problem.

 

[Nothing]

we are together for this

 

[cross1993]

Pakistan needs more dams and agricultural technology, need to import some food.

 

[BATMAN]

Yes that's true In my country poor is getting killed while the rich few getting more rich sad but true

Your country
If you must emphasis

Correction to your comments, rich few ministers, their kith kins, corrupt bureaucrats and hoarders.
I don't mind if all of the Pakistan get rich by fair means.

Pakistanis salaried people also pay highest tax in the world and UN shall take notice of it too.

We have property tax, income tax, sales tax, excise duty, fedral tax, toll tax and zardari tax
Did I miss any thing? and perhaps after re-election of same old politicians is coming; earth quake tax and flood tax, as well.

We also have highest rate of taking most international loans in given time frame and guineas book shall take notice of it.

 

[Hafizzz]

Pakistan is not alone, India's food price is also rising :

India's food inflation rises after three weeks of decline
India's food inflation rises after three weeks of decline - Hindustan Times

Food inflation snapped a three-week easing trend in mid-March and fuel inflation remained at elevated levels, keeping pressure on the central bank to rein in broader inflation. The food price index rose an annual 10.05% in the week to March 12, higher than a 9.42% rise in the previous week as price
s of potatoes and vegetables rose, data released on Thursday showed.

The fuel price index climbed 12.79% in the same week, the same level as in the previous week. Bonds fell on the data.

High food prices kept headline inflation up for much of the past year. But now rising energy prices on unrest in the Middle East are a bigger challenge to inflation management as costlier fuel runs the risk of stoking overall inflation.

"Fuel inflation has remained steady as not much of pass through of high global crude prices is happening," said NR Bhanumurthy, an economist at Delhi-based think-tank National Institute of Public Finance and Policy.

"Once the domestic prices are reviewed to bring them in line with international prices, you will see an acceleration in fuel inflation. But any such revision in fuel prices is unlikely before the state legislative elections."

Bhanumurthy said the rise in food price inflation was a one-off move and should ease going ahead.

The yield on most traded 8.13% 2022 government bond was up 1 basis point at 8.07% after the data release. The 5-year swap rate climbed 2 basis points to 8%, while the 1-year swap rate was up 2 basis points at 7.47%.

Headline inflation had unexpectedly quickened to 8.31% in February from 8.23% a month ago on rising fuel and manufacturing prices.

High prices are a major headache for the Congress-party led ruling coalition, which faces key state elections next month. A poor showing could unravel Prime Minister Manmohan Singh's government, which is already under attack for a series of corruption scandals.

The Reserve Bank of India (RBI) raised interest rates last week for the eighth time since last March and said it was likely to maintain its anti-inflationary bias.

It also raised its forecast for headline inflation at the end of March to 8%, from an earlier 7%, citing risks stemming from high global crude prices.

"I don't think the rate hike cycle has peaked yet. So I expect further rate hikes going ahead," Bhanumurthy said.

World oil prices are trading around $115 a barrel as unrest in Yemen raised concerns about a further threat to supply from the Gulf with Libya's flow also crippled by a standoff between rebels and the government.

 

[Secret Service]

" that is the beauty of Democracy "
Asif Ali Zardari

 

[Skull and Bones]

looks like every country is getting hit by inflation and corruption, and China is in a much better position than most of the Asian countries.

 

[Hafizzz]

looks like every country is getting hit by inflation and corruption, and China is in a much better position than most of the Asian countries.

Well look at what happen when people in China started to panic buying of salt ? It pushed the salt prices so high !!!