Vegetable prices jump in India as farmers go on strike

Two-thirds of India’s 1.3 billion people depend directly or indirectly on farming for their livelihood, but farm incomes only account for 14 percent of gross domestic product. (Reuters)
Updated 04 June 2018

Vegetable prices jump in India as farmers go on strike

  • Farmers began their 10-day protest on Friday to press demands such as farm loan waivers and higher prices for produce such as cereals, oilseeds and milk
  • Last year six farmers were killed in similar protests that became violent in the central state of Madhya Pradesh

MUMBAI: Vegetable prices jumped as much as 10 percent in major Indian cities, including Mumbai and Delhi, as a four-day old strike by millions of farmers curtailed supplies.
Farmers began their 10-day protest on Friday to press demands such as farm loan waivers and higher prices for produce such as cereals, oilseeds and milk.
“Wholesale prices of some vegetables like tomatoes and french beans have risen due to lower supplies,” said a Mumbai-based vegetable vendor Mahesh Gupta.
Outbreaks of rural discontent poses a challenge to Prime Minister Narendra Modi, who promised when he came to power in 2014 to double farm incomes in five years.
Farmers in eight states, mostly ruled by Modi’s Bhartiya Janata Party, have restricted supplies of vegetable and milk to the cities’ markets.
“We are distributing milk and vegetables to the poor and needy, but we’ve decided not sell. The basic idea is to highlight the plight of farmers who have been overlooked by the government,” said Ramandeep Singh Mann, a farmer based in the northern state of Punjab.
Prices for many crops have fallen sharply, while the price of diesel has gone up, squeezing millions of India’s mostly small-scale farmers.
Last year six farmers were killed in similar protests that became violent in the central state of Madhya Pradesh.
In recent days, farmers blocked highways in some places and poured milk onto roads. The protests have been peaceful so far, although organizers are planning to increase the intensity in coming days.
“The government hasn’t fulfilled promises it had given last year. We have no option but to intensify our protests,” said Ajit Nawale, state general secretary, All India Kisan Sabha, one of the farmers’ union participating in the strike.
Two-thirds of India’s 1.3 billion people depend directly or indirectly on farming for their livelihood, but farm incomes only account for 14 percent of gross domestic product, reflecting a growing divide between the countryside and wealthier cities.
“I am stocking up vegetables for the entire week,” said Anjali Salunkhe, a housewife in Mumbai, fearing prices could double as they did during protests last year.


Scammers fool Britons with investment firm clones, says trade body

Updated 28 November 2020

Scammers fool Britons with investment firm clones, says trade body

  • Losses amounted to 9.4 million pounds ($12.56 million) between March and mid-October

LONDON: More than 200 British retail investors have lost nearly 10 million pounds ($13.4 million) in total to sophisticated investment scams since a government lockdown in March to fight the COVID-19 pandemic, a trade body said on Saturday.
Fraudsters cloned genuine investment management firms’ websites and documentation, and advertised fake products on sham price comparison websites and on social media, the Investment Association said.
Greater financial uncertainty and more time spent online have likely contributed to the increase in scams, industry sources say.
Losses amounted to 9.4 million pounds ($12.56 million) between March and mid-October, the IA said, based on information it got from member firms which had been cloned.
“In a year clouded in uncertainty, organized criminals have sought opportunity in misfortune by attempting to con investors out of their hard-earned savings,” Chris Cummings, chief executive of the Investment Association said.
The investment management industry was working closely with police and regulators to stop the scams, he added.
Britain’s Action Fraud warned earlier this month that total reported losses from all types of investment fraud came to 657 million pounds between September 2019 and September 2020, a rise of 28% from a year ago. Reports spiked between May and September, following Britain’s first national lockdown, the national fraud and cybercrime reporting center added.