Thursday, 19 November 2015

Bangladesh Govt. gives topmost priorities to agriculture for achieving self sufficiency in rice production



Dhaka, 19 November :

Agriculture Minister Begum Matia Chowdhury has said the Bangladesh government has attached topmost priorities to agriculture, food security and nutrition that led to the self-sufficiency in rice production feeding a large population with domestic agricultural production.
Delivering a keynote statement at the 40th anniversary of the International Food Policy Research Institute (IFPRI) on 18 November in Washington DC, she, however, said although Bangladesh has made good progress in agriculture and economic growth, the country is increasingly facing challenges of population growth, climate change impacts and vulnerability to domestic and international price shock.
 The Agriculture Minister appeared critical of biofuel production as she said although Bangladesh receives policy advice and funds from international organizations but unhelpful policies like production of biofuel sometimes attempted by some countries contradicts the overhanging goal of attaining food security for all.
She said it is felt that the expansion of biofuels has led to massive diversion of maize to ethanol production, reducing the maize supply for consumption as food, and thus causing maize price to rise rapidly.
Speaking on 'Evolution of Food Policy', Matia Chowdhury observed sharp increase in land under maize cultivation also results in reduced soybean and wheat cultivation.
  She said it is quite ironic that biofuels are still promoted by some multinational corporations as an ecofriendly sustainable alternative to fossil fuels when 2,500 liters of water are required to producing  a mere one liter of biofuel.
 'Policies that promote biofuels have diverted large quantities of food out of food markets and committed them to the pursuit of relatively small amount of transport fuel,' she told the day-long IFPRI conference on Wednesday.
 Government leaders, agriculture scientists and economists from USA, U.K, Canada, Germany, Switzerland, Belgium, Australia, Chile, Brazil, Ethiopia, China, India and Pakistan attended the conference split into different working sessions on food security, agriculture and nutrition, market, trade and macro-policies.
State Minister for Finance and Planning Mohammad Abdul Mannan also spoke at the conference.
 IFPRI at the conference launched the Compact 2025 global initiative for the elimination of hunger and under nutrition by 2025.

Dollar takes momentary rest

Online Desk
The dollar pulled back in Asian trading on Thursday as investors took profits following its rise to seven-month highs, as Federal Reserve officials' comments as well as minutes from the central bank's latest meeting hinted that an interest rate hike could be right around the corner, reports Reuters.
 
The dollar modestly extended its losses against its Japanese counterpart after the Bank of Japan kept monetary policy steady as widely expected, despite the country's recent slip into a technical recession.
 
The dollar index .DXY =USD was down about 0.4 percent at 99.217. It hit a high of 99.853 overnight, closing in on its 12-year peak of 100.39 set in March.
 
"I don't think there's any fundamental shift here, just a bit of profit-taking after the minutes, and I don't see any change to the dollar's trajectory," said Mitul Kotecha, head of Asian FX and rates strategy at Barclays in Singapore.

French PM warns against chemical & biological attack

Online Desk
French PM Manuel Valls has warned that France could face chemical or biological attack from terror groups, as MPs debate extending the state of emergency after the Paris attacks, BBC reports.
 
Belgian police are meanwhile raiding six properties in and around Brussels, linked to suspected Paris attackers Bilal Hadfi and Salah Abdeslam.
 
It remains unclear whether the suspected organiser of the attacks was killed in Wednesday's raid in Paris.
 
Friday's attacks killed 129 people.
 
Most of the Belgian raids are targeting properties in Jette and Molenbeek connected to Bilal Hadfi, a Frenchman living in Belgium who was one of the seven attackers killed in Paris.

AD BANNAR