"The UPA-II government has abandoned the EGoM. This itself speaks volumes about this government's callous inhuman insensitivity. Almost simultaneously came the statement by the Union Agriculture Minister that the country and the people must be prepared to face a drought this year," senior party leader Sitaram Yechury said.
Noting that this had come when government was "saddled with excess food stocks", he said while the Centre complained that states were not lifting 10 million tonnes of wheat to be supplied through open market, the states were justifiably asking that foodgrains should be given to them at BPL prices.
"At the expense of making our people go hungry, the central government is prepared to allow these foodgrains to rot rather than releasing them at BPL prices," Yechury said in an editorial in the latest issue of 'People's Democracy'.
"This situation is leading to an increase in hoarding of foodgrains and other essential commodities in anticipation of higher prices in the future. This has also led to a spurt in speculative trading in essential commodities," he said.
Quoting Commodity Exchange data, he said that in April- June 2012, the value of trade in all agricultural commodities reached a staggering Rs 5,01,866.18 crore.
"Such high level of speculative trading is leading to higher prices of all essential commodities. In order to control this run-away price rise, it is essential that the government must immediately stop exports of essential commodities and ban speculative forward and futures trading in agricultural commodities," he demanded. (More)