Several people recount how the G7 countries failed to "tame" surging commodities futures and speculation in 2007-2008, which impacted already rising food prices and contributed to food riots in 37 countries. Here is why the west has zero moral right to lecture India on it's wheat ban policy.
The US envoy and G7 agricultural ministers have urged India to rethink its choice to halt wheat exports, as grain prices have skyrocketed and a worldwide food shortage looms. Observers in India have indicated why New Delhi is expected to adhere to its wheat strategy.
"First of all, the G7 has no reason to express its disappointment over India’s decision to impose an export ban" argues Devinder Sharma, an expert on food and agricultural policy. "India is a sovereign nation and it has the right to ensure that it is adequately taking care of the country’s food security. This is immensely important, given the fact that India has an estimated 800 million people who are nutritionally poor and ...