In this paper we demonstrate that the high level of wheat procurement during 2008-09 and 2009-10 at a higher minimum support price was necessitated by the difficult circumstances that the government faced, characterised by a precarious buffer stock position from 2005 to 2008. Hence, blaming larger procurement and a higher msp alone for the soaring wheat prices between 2008 and 2010 is an oversimplification of the problem. The experience with wheat procurement in the recent past suggests that foodgrain procurement at a lower msp may not always be feasible.

The financial crisis of 2007/2008 had far-reaching impacts on developing countries, especially in cities which are more directly embedded in the global economy. Declining economic activity, negative effects on the terms of trade with the rich world and consequent job losses, as well as reduced remittances from family members working abroad, disproportionately affected urban households.

Generating energy from crops instead of oil and coal can have counterproductive effects. “The use of biomass can lead to additional emissions of greenhouse gases”, says lead author Alexander Popp of the Potsdam Institute for Climate Impact Research (PIK). “This is the case if forests get cut down to plant energy crops instead.” Forests are important CO2 sinks. At the same time, biomass is expected to play an important role in  future energy systems.

http://iopscience.iop.org/1748-9326/6/3/034017/fulltext