2008-06-12 07:22:04 - Parabolic rise in oil price is ploy of speculators who wants to reach the price to such an height that its consumption decreases, allow the artifical bubble to burst.
OPEC Secretary General Abdalla El-Badri has been authorised by Saudi cabinet to convene Oil meet of producers and chief consumers,with those investor in oil sector to have thread bare discussion reasons responsible surge in global oil price.
OPEC's reference basket of crudes from 13 countries was $130.87 per barrel on Monday, compared with $126.11 the previous Friday, the oil cartel said
on Tuesday.
In use since 1987, the basket is calculated from the crude prices of: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).
The chief executive of Russia's energy giant Gazprom told a European business forum in France that oil prices could reach $250 per barrel in the longer term. News agency AFP quoted Alexei Miller as saying that rivalry for hydrocarbon resources will continue to grow.
U.S. President George W. Bush calling the initiative "interesting" and British Prime Minister Gordon Brown welcoming it.
"As one of the world's largest producers and consumers, we expect to participate," White House spokesman Tony Fratto said later.
The summit is called to mitgate the blame game and to reach reasons responsible the roots of causing surge oil price to an unaffordable to most of the countries, protests seems to emegre from both developed and devloping nations.
Oil experts are having diverse version of oil fields,when one view suggest it limited for three decaded the other postulates more than double the OIL RESERVES.
Oil pricing urgently needs a International regulatory authority to keep check on speculative spiraling price rise of oil which needs statutary guidelines from oil producers and Consumers.
Israeli Threat of war against Iran is another war in Oil producing regions made speculative affect on oil price surge.
Gazprom one of the biggest oil producer of the world and chief suppliers to Europe Alexei Miller its CEO told the European Business Congress in France gas delivery prices for Europe have reached $410 per 1,000 cubic meters, the Russian energy giant's CEO said on Tuesday. Russia's gold and foreign currency reserves increased by $0.5 billion, to $549.1 billion, in the week of May 30 - June 6, the Central Bank of Russia said Wednesday.
Alexey Miller, chairman of Gazprom said the higher crude prices it expected would drag gas values up too. "We think it oil will reach $250 a barrel in the foreseeable future," said Miller, insisting that high demand rather than financial speculation was the primary factor, an argument that runs counter to that put forward by Opec.
OPEC's Secretary General on Tuesday appealed Abdullah al-Badri said there is no shortage of oil in the market called for measures to quell market speculation, a factor OPEC says is sending prices to unjustified levels.
Posted by Nksagar at 10:02 PM
Thursday, June 12, 2008
Wednesday, June 11, 2008
Saudi hold OIL Summit June 22
2008-06-11 14:00:46 - Saudi proposal to hold a meeting of oil producers and consumers to discuss rising oil prices. United States have already voiced their agreement with the proposed summit, which would include executives from financial firms Goldman Sachs and Morgan Stanley.Summit shall discuss objectively the root causes of oil price hikes
Organization of Petroleum Exporting Countries (OPEC) and consumer nations are to hold oil meet .The talks in Jeddah, Saudi Arabia, on June 22, said OPEC Secretary General Abdalla El-Badri is to ascertain the reason of surge in oil price without passing buck or balme game.
Iran, the second largest OPEC member, lack of investment by oil producing nations in their energy
sector and financial problems that have plagued their oil exploration and refining industries have each contributed to the rise in crude prices.
US Treasury Secretary Henry Paulson told CNBC television late Monday that the talks in Jeddah must be 'constructive' and that long-term solutions should include 'investing in supply and alternative sources of energy'.
US is the world's biggest energy consumer.Surging oil and food prices in recent months have contributed to 'stagflation', a simultaneous rise in inflation and slower economic activity, in countries around the world.
European countries, the European Commission, the International Energy Agency , the energy watchdog for industrialized countries and the heads of investment banks Morgan Stanley and Goldman Sachs would be invited, he said.
Investment bankers may reflects the view within OPEC, their share 40 percent of world oil, that their inclusion in the discussions seen both as part of the problem and of the solution.
U.S. President George W. Bush calling the initiative "interesting" and British Prime Minister Gordon Brown welcoming it.
"As one of the world's largest producers and consumers, we expect to participate," White House spokesman Tony Fratto said later.
The summit is called to mitgate the blame game and to reach reasons responsible the roots of causing surge oil price to an unaffordable to most of the countries, protests seems to emegre from both developed and devloping nations.
General elections in countries have extra burden along with streamline of their economy with rise in oil price a diificult preposition.
World economy to get slow down WTO reports which wil bring adverse impact on countries with poor and undeveloped economies.Most of the countries have shown keen interest to attend the summit.
The U.S. delegation might find itself facing counterparts from Iran after the Iranian envoy to OPEC, Mohammad Ali Khatibi, said Tuesday that the meeting "could be useful if we delve into the root cause of the market problems."
Kuwaiti Oil Minister Mohammad al-Olaim told reporters: "We do support it ... and we think that the issue is related to consumers and producers as well."
OPEC maintains that the oil market is well supplied and that current prices do not reflect the market fundamentals of supply and demand.
Oil producers have come under U.S. pressure to boost output to help end the volatility in world markets that saw benchmark crude prices in New York jump close to 140 dollars a barrel last Friday.
New York's main oil futures contract, light sweet crude for July delivery, leapt 10.75 dollars a barrel on Friday to 139.12 -- its biggest one-day jump ever.
OPEC controls the output of its members through a production quota system designed to influence the price of oil. Quotas are set at regular meetings.
Analysts in the Gulf said that the call for a meeting was aimed at showing that OPEC states were not responsible for the surge.
"The meeting is needed to discuss objectively the root causes of oil price hikes instead of simply blaming producers for the rise. All sides have got a role to play in resolving the crisis," Kuwaiti oil analyst Kamel al-Harami said.
Saudi economist Ali al-Dakkak said world prices were being driven by "wild speculation" and a lack of refining capacity in consumer countries, especially the United States.
"Consumer demands for increasing output are politically motivated," he said.
Organization of Petroleum Exporting Countries (OPEC) and consumer nations are to hold oil meet .The talks in Jeddah, Saudi Arabia, on June 22, said OPEC Secretary General Abdalla El-Badri is to ascertain the reason of surge in oil price without passing buck or balme game.
Iran, the second largest OPEC member, lack of investment by oil producing nations in their energy
sector and financial problems that have plagued their oil exploration and refining industries have each contributed to the rise in crude prices.
US Treasury Secretary Henry Paulson told CNBC television late Monday that the talks in Jeddah must be 'constructive' and that long-term solutions should include 'investing in supply and alternative sources of energy'.
US is the world's biggest energy consumer.Surging oil and food prices in recent months have contributed to 'stagflation', a simultaneous rise in inflation and slower economic activity, in countries around the world.
European countries, the European Commission, the International Energy Agency , the energy watchdog for industrialized countries and the heads of investment banks Morgan Stanley and Goldman Sachs would be invited, he said.
Investment bankers may reflects the view within OPEC, their share 40 percent of world oil, that their inclusion in the discussions seen both as part of the problem and of the solution.
U.S. President George W. Bush calling the initiative "interesting" and British Prime Minister Gordon Brown welcoming it.
"As one of the world's largest producers and consumers, we expect to participate," White House spokesman Tony Fratto said later.
The summit is called to mitgate the blame game and to reach reasons responsible the roots of causing surge oil price to an unaffordable to most of the countries, protests seems to emegre from both developed and devloping nations.
General elections in countries have extra burden along with streamline of their economy with rise in oil price a diificult preposition.
World economy to get slow down WTO reports which wil bring adverse impact on countries with poor and undeveloped economies.Most of the countries have shown keen interest to attend the summit.
The U.S. delegation might find itself facing counterparts from Iran after the Iranian envoy to OPEC, Mohammad Ali Khatibi, said Tuesday that the meeting "could be useful if we delve into the root cause of the market problems."
Kuwaiti Oil Minister Mohammad al-Olaim told reporters: "We do support it ... and we think that the issue is related to consumers and producers as well."
OPEC maintains that the oil market is well supplied and that current prices do not reflect the market fundamentals of supply and demand.
Oil producers have come under U.S. pressure to boost output to help end the volatility in world markets that saw benchmark crude prices in New York jump close to 140 dollars a barrel last Friday.
New York's main oil futures contract, light sweet crude for July delivery, leapt 10.75 dollars a barrel on Friday to 139.12 -- its biggest one-day jump ever.
OPEC controls the output of its members through a production quota system designed to influence the price of oil. Quotas are set at regular meetings.
Analysts in the Gulf said that the call for a meeting was aimed at showing that OPEC states were not responsible for the surge.
"The meeting is needed to discuss objectively the root causes of oil price hikes instead of simply blaming producers for the rise. All sides have got a role to play in resolving the crisis," Kuwaiti oil analyst Kamel al-Harami said.
Saudi economist Ali al-Dakkak said world prices were being driven by "wild speculation" and a lack of refining capacity in consumer countries, especially the United States.
"Consumer demands for increasing output are politically motivated," he said.
Wednesday, June 4, 2008
Is BJP following Congress ?
BJP who has with support of more than two dozen coalition has ruled the country for more than four years.In this era of saffron the party has felt that being purely a saffron outfit may not bring them on national scene.The political outfit of Saffron BJP and its frontal organisation is making public consumption statement show its making an effort to live the congress way.A people of united front with differences but walk in secular way to build a democratic nation must be our efforts to which all our political parties must imbibe.Difference in opionion make ones understand and help in marching forward for the devlopment of country both in political and social structures which help in advancing forward in economical fronts.
Neverthless good beginning by the parties which appears to be radical outfit rather than nationalist outfit and their walking to put on robes of nationalist in broader sense is great beinning.
BJP on 123 agreement:
The BJP today said it was not opposed to a nuclear agreement with the US but wanted the present deal to be redrafted so that there was no restriction on India carrying out atomic tests in future. "We do not basically oppose the nuclear agreement," senior party leader L K Advani said at an ASSOCHAM function here. He said that the BJP was not against securing nuclear fuel from the United States but wanted "the 123 Agreement to be redrafted to insulate India from the Hyde Act". "Our reservation is only on the written word that there should not be any further nuclear tests," the former Deputy Prime Minister added. Advani said even Prime Minister Manmohan Singh had not adhered to the promises made in Parliament regarding the deal. "We had demanded a Joint Parliamentary Committee (JPC) on the deal. Instead, the government decided to form a coordination committee only with the Left parties," he said. On the SEZ policy, Advani said his party supported them as long as they were promoting exports. "They should not be for the betterment of a few people," he said.
Nepal democracy
Terming the resolution by the newly elected Nepal Constituent Assembly declaring the end of monarchy and the turning of the Hindu Kingdom into a secular state as "unconstitutional", the VHP today demanded that India must "speak out" against the move in its own interest.
"The new government is yet to be formed and leaders are squabbling for the President's post even as his powers have yet not been ascertained. Such a resolution being passed without a debate is unconstitutional," Vishwa Hindu Parishad President Ashok Singhal said here today.
Singhal claimed that there was no need for adopting the secular character at a time when over 92 per cent of the Nepali population is Hindu. "They should have at least settled for a symbolic and ceremonial arrangement rather than taking the king out," he said.
The VHP chief also asked the Indian government to "speak out" against the resolution passed on the night of May 28 ending the over 240-year-long monarchy in its own interest.
"The Maoists are working under instructions from China while there are Christians working for American interests in Nepal and converting people. Also, there are reports that over 400 madrasas have mushroomed in the area bordering India," Singhal alleged.
India has open borders with Nepal and the events in Nepal can have serious rammifications for India as well, he added.
"We will be writing to the Indian government and also taking up the issue by holding discussions with Ministry of External Affairs officials," Singhal added.
Neverthless good beginning by the parties which appears to be radical outfit rather than nationalist outfit and their walking to put on robes of nationalist in broader sense is great beinning.
BJP on 123 agreement:
The BJP today said it was not opposed to a nuclear agreement with the US but wanted the present deal to be redrafted so that there was no restriction on India carrying out atomic tests in future. "We do not basically oppose the nuclear agreement," senior party leader L K Advani said at an ASSOCHAM function here. He said that the BJP was not against securing nuclear fuel from the United States but wanted "the 123 Agreement to be redrafted to insulate India from the Hyde Act". "Our reservation is only on the written word that there should not be any further nuclear tests," the former Deputy Prime Minister added. Advani said even Prime Minister Manmohan Singh had not adhered to the promises made in Parliament regarding the deal. "We had demanded a Joint Parliamentary Committee (JPC) on the deal. Instead, the government decided to form a coordination committee only with the Left parties," he said. On the SEZ policy, Advani said his party supported them as long as they were promoting exports. "They should not be for the betterment of a few people," he said.
Nepal democracy
Terming the resolution by the newly elected Nepal Constituent Assembly declaring the end of monarchy and the turning of the Hindu Kingdom into a secular state as "unconstitutional", the VHP today demanded that India must "speak out" against the move in its own interest.
"The new government is yet to be formed and leaders are squabbling for the President's post even as his powers have yet not been ascertained. Such a resolution being passed without a debate is unconstitutional," Vishwa Hindu Parishad President Ashok Singhal said here today.
Singhal claimed that there was no need for adopting the secular character at a time when over 92 per cent of the Nepali population is Hindu. "They should have at least settled for a symbolic and ceremonial arrangement rather than taking the king out," he said.
The VHP chief also asked the Indian government to "speak out" against the resolution passed on the night of May 28 ending the over 240-year-long monarchy in its own interest.
"The Maoists are working under instructions from China while there are Christians working for American interests in Nepal and converting people. Also, there are reports that over 400 madrasas have mushroomed in the area bordering India," Singhal alleged.
India has open borders with Nepal and the events in Nepal can have serious rammifications for India as well, he added.
"We will be writing to the Indian government and also taking up the issue by holding discussions with Ministry of External Affairs officials," Singhal added.
Tuesday, June 3, 2008
Tremblor 5.4 intensity struck in Indonesia
2008-06-03 11:22:47 - Asian region is in the grip of immediate threats of more quakes.The continent's various tectonic plates hangs in imbalance as its imbricate nature needs balancing act which appears to have been unable to search its new fulcrum.
Jun 3,2008 Tremblor in Indonesia
An earthquake measuring 5.4 on the Richter Scale rocked eastern parts of Indonesia this morning. Indonesian Meteorological agency said the quake struck at 8:03 a.m. (local time) and had its epicenter 62 kilometers northeast of Poso town of Central Sulawesi province; and 44 kilometers in depth. There are no immediate reports of any damage or casualties.
June 1,2008 Quake rocks Philippines,Taiwan.
A strong 6.4quake rocks Philippines,Taiwan.2008-06-01 09:52:08 - US Geological Survey said that a strong 6.4-magnitude earthquake rocked the northern Philippines and southern Taiwan on Sunday.
Philippine Taiwan"s Central Weather Bureau said the magnitude 6.8 quake hit at around 9:57 a.m. (0157 GMT). It was faintly felt in Taiwan.
The bureau said the epicenter was located in the Pacific Ocean about 340 miles (560 kilometers) southeast of Taiwan"s capital of Taipei, near the Bashi Channel that separates Taiwan and the Philippines.
The epicenter was as deep as 29 miles (46 kilometers) below the ocean surface.
In Manila, Renato Solidum Jr., head of the Philippine Institute of Volcanology and Seismology, gave the quake magnitude at 6.3.
He said the tremor was felt in the Philippines" northernmost province of Batanes but was too deep to cause any major damage or casualties.Institute of Volcanology and Seismology said the quake had a magnitude of 6.3 with an epicentre about 76 kilometres west of the Batan town of Basco.
The quake was felt strongly in Basco but was barely noticeable in the northern provinces of the Philippines" main island of Luzon, the institute said, adding that aftershocks were expected.
It was also felt in southern counties of Taiwan.
Asia continent in fear of more quakes.
Asian South eastern nation are in severe danger of this threat with Indias nothern belt has also worrisome time. China has more than four thousand quake jolts, with low intensity of tremor in Malaysia,and low intensity quake in India.Kashmir,Uttrakhand and Himachal regions too sit in regions of immediate threat.
On sunday China was rocked with 6 Magnitude shock and 5.4-magnitude aftershock hit Qingchuan county of southwestern Sichuan Province at 2:06 p.m. Monday, according to the China Earthquake Networks Center. The epicenter of the latest tremor is located at 32.5 degrees north latitude and 105.3 degrees east longitude, it said. The tremor was the latest major quake monitored following more than 20 aftershocks above magnitude 5 that rocked the hardest-hit area in Sichuan.
There is no casualty and damage in the area have been reported so far.More than four thousand shocks with low intensity are observed.
These regular quake shocks reflect the adjustment of tectonic plates or more quake in other plates are imminent.
There is an important movement in earth tectonic plates hold on or balancing act within the five major plates of earth and other connected multiple plates on which the other continents are drawn are likely to be storm or quake affected with these regular tremors.
Indian government needs to be in vigil with its disater managment agencies educating its people. Five main tectonic plates on which the world rest with its subsidiary plates takes its shapes according to the main plates and many times gets its overturn in which many lands dissappers with new emergence.
Jun 3,2008 Tremblor in Indonesia
An earthquake measuring 5.4 on the Richter Scale rocked eastern parts of Indonesia this morning. Indonesian Meteorological agency said the quake struck at 8:03 a.m. (local time) and had its epicenter 62 kilometers northeast of Poso town of Central Sulawesi province; and 44 kilometers in depth. There are no immediate reports of any damage or casualties.
June 1,2008 Quake rocks Philippines,Taiwan.
A strong 6.4quake rocks Philippines,Taiwan.2008-06-01 09:52:08 - US Geological Survey said that a strong 6.4-magnitude earthquake rocked the northern Philippines and southern Taiwan on Sunday.
Philippine Taiwan"s Central Weather Bureau said the magnitude 6.8 quake hit at around 9:57 a.m. (0157 GMT). It was faintly felt in Taiwan.
The bureau said the epicenter was located in the Pacific Ocean about 340 miles (560 kilometers) southeast of Taiwan"s capital of Taipei, near the Bashi Channel that separates Taiwan and the Philippines.
The epicenter was as deep as 29 miles (46 kilometers) below the ocean surface.
In Manila, Renato Solidum Jr., head of the Philippine Institute of Volcanology and Seismology, gave the quake magnitude at 6.3.
He said the tremor was felt in the Philippines" northernmost province of Batanes but was too deep to cause any major damage or casualties.Institute of Volcanology and Seismology said the quake had a magnitude of 6.3 with an epicentre about 76 kilometres west of the Batan town of Basco.
The quake was felt strongly in Basco but was barely noticeable in the northern provinces of the Philippines" main island of Luzon, the institute said, adding that aftershocks were expected.
It was also felt in southern counties of Taiwan.
Asia continent in fear of more quakes.
Asian South eastern nation are in severe danger of this threat with Indias nothern belt has also worrisome time. China has more than four thousand quake jolts, with low intensity of tremor in Malaysia,and low intensity quake in India.Kashmir,Uttrakhand and Himachal regions too sit in regions of immediate threat.
On sunday China was rocked with 6 Magnitude shock and 5.4-magnitude aftershock hit Qingchuan county of southwestern Sichuan Province at 2:06 p.m. Monday, according to the China Earthquake Networks Center. The epicenter of the latest tremor is located at 32.5 degrees north latitude and 105.3 degrees east longitude, it said. The tremor was the latest major quake monitored following more than 20 aftershocks above magnitude 5 that rocked the hardest-hit area in Sichuan.
There is no casualty and damage in the area have been reported so far.More than four thousand shocks with low intensity are observed.
These regular quake shocks reflect the adjustment of tectonic plates or more quake in other plates are imminent.
There is an important movement in earth tectonic plates hold on or balancing act within the five major plates of earth and other connected multiple plates on which the other continents are drawn are likely to be storm or quake affected with these regular tremors.
Indian government needs to be in vigil with its disater managment agencies educating its people. Five main tectonic plates on which the world rest with its subsidiary plates takes its shapes according to the main plates and many times gets its overturn in which many lands dissappers with new emergence.
BJP focus General Election scouts allies
2008-06-02 21:53:35 - Right hindu BJP prepare next Lok Sabha elections and asked state units to forward the list of probable candidate by this month end.Mr LK Advani hopes more allies will join NDA in near future with their planned strategy.
BJP Party chief Rajnath Singh also announced setting up of a central election management and coordination war room to gear up for the Lok Sabha polls.BJP Buoyed by a series of Assembly poll wins in its National Executive meeting in which BJP today started gearing up for emerging as the "clear winner" in the next Lok Sabha polls with senior
leader L K Advani coining the slogan Jeetega BJP, Jeetega India.
Mr L K Advani, projected as the NDA's Prime Ministerial candidate,in exuberance of victory in Karnataka to which he has described it as a turning point in BJP ascendence in national secene said, "Once the BJP is seen as a 'clear winner', it is bound to have a positive effect on the size and strength of the NDA. We can expect....We are indeed confident.... That more parties will join our alliance,"
Further he told the party's National Executive that the expansion, stability and cohesion of the NDA "depends on our ability to attract and retain allies who may not be ideologically aligned with the BJP on all issues." His comments concluding the two-day national executive meet was in contrast to party chief Rajnath Singh's attempt yesterday to bring back on the saffron agenda the contentious demands for scrapping of Article 370 and the uniform civil code, which were otherwise on the backburner because of coalition pressures.
"Let us resolve...Not to waste a single day, not to ignore a single task, and not to neglect a single winnable seat in order to achieve our goal of securing a decisive majority for the NDA with a BJP emerging as a strong and unshakable anchor of our alliance," he said.
In this series,BJP inorder to prove their point on 123 agreement inspireCongress to move the issue.
BJP has criticised the UPA government for its alleged failure in checking price rise and inflation.
Congress in contrast look for their shortcoming SethuSamudram project a project handled in unholy way and Federal Minister making remarks at crucial juncture about equating the cases of Afzal Guru in this country and Sarbjeet Singh in a death cell in Pakistan made emotions shift and two important castes in Karnataka,the Lingayat, received favour of BJP and Vokkaliga votes got divided between JDSecular of former PM HD Dewa Gowda and the Congress party.Rising and spiralling inflation to which the Federal Ministers assured tameing it within months and Oil price soared in International market made their task a difficult one.Talks in bteween to increase hike in fuel cost,all issues tilted congress party in fix.
BJP Party chief Rajnath Singh also announced setting up of a central election management and coordination war room to gear up for the Lok Sabha polls.BJP Buoyed by a series of Assembly poll wins in its National Executive meeting in which BJP today started gearing up for emerging as the "clear winner" in the next Lok Sabha polls with senior
leader L K Advani coining the slogan Jeetega BJP, Jeetega India.
Mr L K Advani, projected as the NDA's Prime Ministerial candidate,in exuberance of victory in Karnataka to which he has described it as a turning point in BJP ascendence in national secene said, "Once the BJP is seen as a 'clear winner', it is bound to have a positive effect on the size and strength of the NDA. We can expect....We are indeed confident.... That more parties will join our alliance,"
Further he told the party's National Executive that the expansion, stability and cohesion of the NDA "depends on our ability to attract and retain allies who may not be ideologically aligned with the BJP on all issues." His comments concluding the two-day national executive meet was in contrast to party chief Rajnath Singh's attempt yesterday to bring back on the saffron agenda the contentious demands for scrapping of Article 370 and the uniform civil code, which were otherwise on the backburner because of coalition pressures.
"Let us resolve...Not to waste a single day, not to ignore a single task, and not to neglect a single winnable seat in order to achieve our goal of securing a decisive majority for the NDA with a BJP emerging as a strong and unshakable anchor of our alliance," he said.
In this series,BJP inorder to prove their point on 123 agreement inspireCongress to move the issue.
BJP has criticised the UPA government for its alleged failure in checking price rise and inflation.
Congress in contrast look for their shortcoming SethuSamudram project a project handled in unholy way and Federal Minister making remarks at crucial juncture about equating the cases of Afzal Guru in this country and Sarbjeet Singh in a death cell in Pakistan made emotions shift and two important castes in Karnataka,the Lingayat, received favour of BJP and Vokkaliga votes got divided between JDSecular of former PM HD Dewa Gowda and the Congress party.Rising and spiralling inflation to which the Federal Ministers assured tameing it within months and Oil price soared in International market made their task a difficult one.Talks in bteween to increase hike in fuel cost,all issues tilted congress party in fix.
Sunday, June 1, 2008
India draws global attention in farm production
2008-06-01 08:30:46 - More than two dozen countries fear for food crisis in their country and causing riots due to increase in price of food articles.India emerges chief farm producers in the world.
The three-day Food Security Summit beginning in Rome,Agriculture Minister Sharad Pawar will share the country's experience at the summit, being organised by the Food and Agriculture Organisation to draw a common strategy for tackling the global food crisis and impact of climate change on availability of food grains.
In the summit, which among others will be attended by UN Secretary General
Ban Ki-moon, Brazilian President Luiz Inacio Lula da Silva and Japanese Prime Minister Yasuo Fukuda, is being held at a time when global food prices have soared to a 10-year high hitting the poor the hardest.
India's voice will be important as the country has managed to increase agriculture output to a record level of 227 million tons, "as a result of various measures taken by the government to revitalise agriculture."
Procurement of food grains for the public distribution system has touched 47 million tons, said an official release pointing out that the country "has been able to manage food security both in terms of availability and price level in a satisfactory manner."
Besides Pawar, India will be represented by Agriculture Secretary P K Mishra, country's newly-appointed Ambassador to Italy Arif Khan and representatives of Ministries of Environment and Forest and New and Renewable Energy.
In his statement at the summit, Pawar is likely to stress that while prices of food grains globally went up by 76 to 161 per cent, the increase has been moderate in India.
He is also slated to hold bilateral discussions on issues of common and global concerns at the sidelines of the summit with his counterparts from the US, Japan and the Philippines.
Although the FAO invited Prime Minister Manmohan Singh to participate at the global summit, Singh deputed Pawar to lead the Indian delegation.
The FAO summit, which will also focus on climate change, will discuss the challenges facing the world food security and issue a declaration on "required actions" at the end of the three-day meeting.
The declaration, among other things, will focus on steps which could be taken collectively by the global community for taming food prices.
According to FAO estimates, about 85 crore people in the world suffer from hunger and of these about 82 crore will be worst hit by the adverse impact of climate change.
Food riots caused by rising prices have been reported from as many as 37 countries, from Haiti to Mexico.
"Governments, international organisations, civil society, the private sector and other sectors, must work together to address these challenges and to devise appropriate strategies and responses", the FAO said in an appeal to the global community on the eve of the summit.
The three-day Food Security Summit beginning in Rome,Agriculture Minister Sharad Pawar will share the country's experience at the summit, being organised by the Food and Agriculture Organisation to draw a common strategy for tackling the global food crisis and impact of climate change on availability of food grains.
In the summit, which among others will be attended by UN Secretary General
Ban Ki-moon, Brazilian President Luiz Inacio Lula da Silva and Japanese Prime Minister Yasuo Fukuda, is being held at a time when global food prices have soared to a 10-year high hitting the poor the hardest.
India's voice will be important as the country has managed to increase agriculture output to a record level of 227 million tons, "as a result of various measures taken by the government to revitalise agriculture."
Procurement of food grains for the public distribution system has touched 47 million tons, said an official release pointing out that the country "has been able to manage food security both in terms of availability and price level in a satisfactory manner."
Besides Pawar, India will be represented by Agriculture Secretary P K Mishra, country's newly-appointed Ambassador to Italy Arif Khan and representatives of Ministries of Environment and Forest and New and Renewable Energy.
In his statement at the summit, Pawar is likely to stress that while prices of food grains globally went up by 76 to 161 per cent, the increase has been moderate in India.
He is also slated to hold bilateral discussions on issues of common and global concerns at the sidelines of the summit with his counterparts from the US, Japan and the Philippines.
Although the FAO invited Prime Minister Manmohan Singh to participate at the global summit, Singh deputed Pawar to lead the Indian delegation.
The FAO summit, which will also focus on climate change, will discuss the challenges facing the world food security and issue a declaration on "required actions" at the end of the three-day meeting.
The declaration, among other things, will focus on steps which could be taken collectively by the global community for taming food prices.
According to FAO estimates, about 85 crore people in the world suffer from hunger and of these about 82 crore will be worst hit by the adverse impact of climate change.
Food riots caused by rising prices have been reported from as many as 37 countries, from Haiti to Mexico.
"Governments, international organisations, civil society, the private sector and other sectors, must work together to address these challenges and to devise appropriate strategies and responses", the FAO said in an appeal to the global community on the eve of the summit.
A strong 6.4quake rocks Philippines,Taiwan
2008-06-01 09:52:08 - US Geological Survey said that a strong 6.4-magnitude earthquake rocked the northern Philippines and southern Taiwan on Sunday.
Philippine Taiwan"s Central Weather Bureau said the magnitude 6.8 quake hit at around 9:57 a.m. (0157 GMT). It was faintly felt in Taiwan.
The bureau said the epicenter was located in the Pacific Ocean about 340 miles (560 kilometers) southeast of Taiwan"s capital of Taipei, near the Bashi Channel that separates Taiwan and the Philippines.
The epicenter was as deep as 29
miles (46 kilometers) below the ocean surface.
In Manila, Renato Solidum Jr., head of the Philippine Institute of Volcanology and Seismology, gave the quake magnitude at 6.3.
He said the tremor was felt in the Philippines" northernmost province of Batanes but was too deep to cause any major damage or casualties.
Institute of Volcanology and Seismology said the quake had a magnitude of 6.3 with an epicentre about 76 kilometres west of the Batan town of Basco.
The quake was felt strongly in Basco but was barely noticeable in the northern provinces of the Philippines" main island of Luzon, the institute said, adding that aftershocks were expected.
It was also felt in southern counties of Taiwan.
There is still no reports of damage or loss of life from the tremblor affect but its epicentre being in the low sea bed its adevrse impact may have diluted.
The intensitymore than 6 can bring down temporary structures.
Philippine Taiwan"s Central Weather Bureau said the magnitude 6.8 quake hit at around 9:57 a.m. (0157 GMT). It was faintly felt in Taiwan.
The bureau said the epicenter was located in the Pacific Ocean about 340 miles (560 kilometers) southeast of Taiwan"s capital of Taipei, near the Bashi Channel that separates Taiwan and the Philippines.
The epicenter was as deep as 29
miles (46 kilometers) below the ocean surface.
In Manila, Renato Solidum Jr., head of the Philippine Institute of Volcanology and Seismology, gave the quake magnitude at 6.3.
He said the tremor was felt in the Philippines" northernmost province of Batanes but was too deep to cause any major damage or casualties.
Institute of Volcanology and Seismology said the quake had a magnitude of 6.3 with an epicentre about 76 kilometres west of the Batan town of Basco.
The quake was felt strongly in Basco but was barely noticeable in the northern provinces of the Philippines" main island of Luzon, the institute said, adding that aftershocks were expected.
It was also felt in southern counties of Taiwan.
There is still no reports of damage or loss of life from the tremblor affect but its epicentre being in the low sea bed its adevrse impact may have diluted.
The intensitymore than 6 can bring down temporary structures.
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