Indian economy faces a turbulent time. In the past, onion prices have toppled governments and now tomato is threatening to take up the role. Monsoon usually sends vegetable prices skyrocketing. The humble tomato that forms the base of Indian cooking is expected to reach Rs 250 per kg.
Panic buying of food grains
Economic Survey 2020 pointed to affordability of meals increasing across the Indian society. An average household of five individuals that eats two vegetarian thalis a day gained around Rs 10,887 on average per year while a non-vegetarian household gained Rs 11,787, on average, per year. Using the annual earnings of an average industrial worker, it is found that the affordability of vegetarian thalis improved by 29 per cent from 2006-07 to 2019-20 while that for non-vegetarian thalis improved by 18 per cent. This calculation can easily be blown away considering the astronomical increase in prices.
While the domestic condition is worrisome, at the international level, Indian’s export ban on non-basmati white rice has sent off NRIs savings to a spin. This comes at a time when Russia refused to renew the grain deal with Ukraine. Panic buying and stocking of grains have spiralled up the prices. India suddenly announcing such a ban does not hold good to the image that it has garnered in the global arena, that of a reliable partner. But unprecedented rainfalls in the north and drought like scenario in the west have hit agricultural production. Both war and climate calamities have played together and threatened food security.
July, hottest month in 120,000 years
Climate change has become a reality. July marks the hottest month ever of this year and of earth as a whole, ever since records have been kept. It marks out of 120,000 years of evidence of past temperatures. The extreme heat wave is being experienced across North America, Europe and Asia and World Meteorological Organization has announced that the earth’s temperature has been temporarily passing over the internationally accepted goal of limiting global warming to 1.5 degree celsius. Though this does not mean that the earth has hit the irreversible threshold point, it is an alarm to act immediately.
António Guterres, United Nations Secretary-General has called this, the era of global boiling. It points to the uncontrolled temprature rise. Global warming has varied effects on the planet. From floods, drought, sea level rising, ice caps melting, fires to food shortages and loss of life and property. The consequences are not only limited to the atmosphere but are also felt in oceans. Global ocean surface temperature reached unprecedented high levels. It may lead to implications damage of marine ecosystems, weather patterns and sea levels.
The most concerning part of climate change is that it affects the poorest of the poor first. Often emission control is set aside as it is thought of an investment that does not benefit in the immediate future. But as climate calamities become more frequent and prolonged, it is necessary that world leaders and policy makers take immediate actions.
