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Our Bureau

New Delhi, May 4 The Confederation of Indian Industry on Sunday said rising food price is a matter of global concern and not specific to any country. This comes in the wake of the US President, Mr George W. Bush’s comments on Saturday blaming the lifestyle of India’s huge middle class for the spiralling global food prices.

“The entire issue of food prices needs to be seen in a global perspective and not just seen as an issue emanating from specific countries. There is a need for greater flow of global information on food production and consumption and cuts in food wastage,” said Mr Chandrajit Banerjee, Director-General, CII. We are setting up a task force to look into this area, he added.

The CII said that the current crisis has been created due to several reasons.

“The main factors for the crisis include diversion of food to bio fuels, changing weather conditions across the globe leading to droughts which mean lower food production in several countries and huge agricultural subsidies which encourage leaving agricultural land fallow to maintain global prices of agricultural products,” the industry body said in a press release.

More Stories on : Economy | Industry Associations | Foodgrains

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