Nirupam Sen is Permanent Representative (ambassador) of India to the United Nations. So, he is in an important position and what he says contains a lot of weight. He recently criticized developed countries, World Bank and IMF for the rise in food price world wide. He feels that food price increase is related to increase in oil price.
Sify wrote:
He also underlined the negative role played by the financial crisis in the US.
"Speculators, encouraged by the dollar's relative decline, invest in food futures to profit from the commodities super cycle," Sen said while predicting that this bubble, too, will burst.
Sen said that while the UN bodies - Food and Agriculture Organisation (FAO), World Food Programme (WFP) and UN Development Programme (UNDP) - work for the right to food, the World Bank and International Monetary Fund (IMF) advise countries not just to export surplus food, which is right, but also to shift from food crops for the domestic population to cash crops for export, which is harmful.
In 2007, most people in the world were bothered with the price of oil. Now, I think that people are equally concerned about the increase in food price in Asia. The good news is that harvest is good this season in India.
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