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World food commodity prices declined modestly in May: FAO

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 World food commodity prices declined modestly in May for the second consecutive month, although wheat and poultry prices pushed higher, the UN’s Food and Agriculture Organization (FAO) reported on Friday.

The FAO Food Price Index averaged 157.4 points in May 2022, down 0.6 per cent from April. The Index, which tracks monthly changes in the international prices of a basket of commonly-traded food commodities, however, remained 22.8 per cent higher than in May 2021.

The FAO Cereal Price Index increased by 2.2 per cent from the previous month, led by wheat prices, which were up 5.6 per cent from April and 56.2 per cent from their corresponding value a year earlier.

International wheat prices, averaging only 11 percent below the record high reached in March 2008, rose in response to an export ban announced by India and concerns over crop conditions in several leading exporting countries as well as reduced production prospects in Ukraine due to the war.

International rice prices also rose across the board, while coarse grain prices declined by 2.1 per cent, with maize prices dropping by even more in step with slightly improved crop conditions in the US, seasonal supplies in Argentina and the imminent start of Brazil’s main maize harvest.

The FAO Vegetable Oil Price Index declined by 3.5 percent from April, while still markedly higher than its year-earlier level. Prices dropped for palm, sunflower, soy and rapeseed oils, due in part to the removal of Indonesia’s short-lived export ban on palm oil and sluggish global import demand for soy and rapeseed oils in view of elevated costs in recent months.

“Export restrictions create market uncertainty and can result in price spikes and increased price volatility, the decrease in oilseeds prices shows how important it is when they are removed and let exports flow smoothly,” said FAO Chief Economist Maximo Torero Cullen.

The FAO Dairy Price Index also dropped by 3.5 per cent month-on-month. Prices of milk powders declined the most, linked to market uncertainties from the continued Covid-19 lockdowns in China, while robust retail sales and high demand from restaurants in the Northern Hemisphere prevented cheese prices from falling significantly despite weakened global import demand.

Butter prices also dropped on account of a weaker import demand amid improved exportable supplies.

The FAO Sugar Price Index declined by 1.1 per cent from April, as a bumper crop in India buoyed global availability prospects.

The weakening of the Brazilian real against the US dollar, along with lower ethanol prices, also pressured world sugar prices downwards.

Meanwhile, the FAO Meat Price Index set a new all-time high, increasing by 0.6 per cent in May even as world bovine meat prices remained stable and those of pig meat fell.

The climb was driven by a steep increase in international poultry meat prices, reflecting continued supply chain disruptions in Ukraine and recent cases of avian influenza amid a surge in demand in Europe and the Middle East.

International

US on high alert over possible Israeli strike on Iran: Reports

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Washington, June 12: The United States has reportedly gone on high alert amid growing concerns of a potential Israeli strike on Iran’s nuclear facilities, local media reported.

The Trump administration is fearing that Israel may act unilaterally without Washington’s consent if negotiations between the US and Iran collapse, according to the Washington Post.

President Donald Trump, addressing the situation on Wednesday, stated that US personnel are being moved out of certain Middle Eastern regions, particularly Iran, due to the escalating risk of conflict.

“They (US personnel) are being moved out because it could be a dangerous place, and we will see what happens… We have given notice to move out,” Trump told reporters.

The US State Department has also permitted some diplomatic staff to leave Iraq, while the Pentagon has authorised military families to voluntarily depart from American bases throughout the region.

This uptick in security measures comes as hopes for a nuclear agreement between Washington and Tehran continue to fade, raising the spectre of another military confrontation in the Middle East following the recent Israel-Hamas conflict.

Trump reiterated his uncompromising stance on Iran’s nuclear ambitions, asserting, “They can’t have a nuclear weapon. Very simple. They can’t have a nuclear weapon. We’re not going to allow that,” when asked whether diplomatic solutions were still possible.

Last month, Axios reported that Israel was preparing for a rapid strike on Iran if the US-Iran talks failed.

Trump has previously threatened military action against Iran should nuclear negotiations stall, and in an interview with the New York Post earlier on Wednesday, admitted he was becoming “less confident” that Tehran would agree to halt uranium enrichment, one of the key conditions demanded by the US.

Recent months have seen rising concerns among US intelligence officials that Tel Aviv might move ahead with a strike on Iran’s nuclear infrastructure without notifying Washington.

In response, Iran has warned that any Israeli strike, given the US’ role as Israel’s key military and political backer, would have direct consequences for the United States.

In a post on X on Thursday, the Iranian government declared, “We are Ready.”

Iranian Defence Minister Aziz Nasirzadeh issued a stern warning on Wednesday, stating that any attack on Iran would be met with retaliatory strikes on US bases stationed in the Middle East.

In anticipation of potential fallout, Washington has ordered US embassies located within Iran’s strike range — including those in the Middle East, Eastern Europe, and North Africa — to activate emergency action committees.

These missions have been instructed to report back on security measures to mitigate potential risks. The State Department has reportedly also authorised voluntary departures from missions in Bahrain and Kuwait.

This precautionary approach led Secretary of State Marco Rubio to update the global travel advisory on Wednesday, stating, “On June 11, the Department of State ordered the departure of non-emergency US government personnel due to heightened regional tensions.”

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International

Scenes emerging of London-bound plane crashing in Ahmedabad devastating: British PM

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London/New Delhi, June 12: Several global leaders, including British Prime Minister Keir Starmer, on Thursday expressed shock and grief after an Air India flight bound for London, carrying over 240 passengers crashed shortly after taking off from the Ahmedabad airport, triggering a massive emergency response. The incident occurred near the Meghaninagar area of the city.

“The scenes emerging of a London-bound plane carrying many British nationals crashing in the Indian city of Ahmedabad are devastating. I am being kept updated as the situation develops, and my thoughts are with the passengers and their families at this deeply distressing time,” Starmer posted on X.

At least 169 Indians and 53 British nationals were travelling in Air India’s flight AI171 from Ahmedabad to London’s Gatwick airport.

British Defence Secretary David Lammy also expressed grief at the devastating plane crash and offered condolences to those affected.

“Deeply saddened by news of a devastating plane crash in Ahmedabad, India. My thoughts are with all those affected. The UK is working with local authorities in India to urgently establish the facts and provide support,” Lammy posted on X.

British Conservative Party MP Priti Patel urged the UK government to work with the Indian authorities to support the affected British families.

“My thoughts and prayers are with everyone affected by the plane crash at Ahmedabad and with the emergency services at the scene. This will be a worrying time for the families of those on board. As further information comes forward, the Government needs to ensure it is working with Indian authorities to support British families affected,” said Patel.

Ukrainian President Volodymyr Zelensky also took to social media, offering his deepest condolences on the tragic accident.

“Horrible news of a passenger plane crash in India. My deepest condolences to Prime Minister Narendra Modi and the entire people of India on this tragic day. Our thoughts are with all victims’ relatives and close ones in India, the UK, Portugal, and Canada. We share your shock and grief on this tragic day. We all pray for as many lives to be saved as possible and wish a speedy recovery to those injured,” Zelensky posted on X.

Russia’s Ambassador to India, Denis Alipov termed the accident as a major catastrophe.

“Heartbreaking news is coming from Ahmedabad. My heartfelt sympathy to the families and near ones of the victims and to all Indian people and the Government of India over this tragic major catastrophe!”, he said.

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National

Ruckus in Bengal Assembly as BJP MLAs protest over Maheshtala violence, Murshidabad riots

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Kolkata, June 12: Pandemonium broke out in the West Bengal Assembly on Thursday after Speaker Biman Bandyopadhyay refused to admit two adjournment motions, moved by opposition BJP, seeking discussions on the communal violence in Murshidabad in April and the clashes in the Maheshtala area in South 24 Parganas district.

As the members of the BJP’s legislative team moved the two adjournment motions soon after the House began, the Speaker refused to admit them on the grounds that both matters were sub judice and hence could not be taken up for discussion.

The refusal irked the BJP legislators, who, led by LoP Suvendu Adhikari, started protesting in front of the Speaker’s chair after coming down to the well of the Assembly.

The security personnel of the Assembly raised a human wall between the Speaker’s chair and the protesting legislators.

The BJP legislators shouted slogans and waved flags. They also protested by tearing apart paper documents on the House proceedings distributed among the legislators.

As the West Bengal Minister of State for Finance (independent charge), Chandrima Bhattacharya protested against this action, there were heated conversations between the BJP and Trinamool Congress legislators within the House.

“These paper documents are not any personal property that they can be destroyed in such a manner,” Bhattacharya was heard saying.

The BJP legislators continued with their protests even as the Trinamool Congress MLAs continued with their speeches in the House as per schedule.

Adhikari is scheduled to meet Governor C.V. Ananda Bose on the issue of Maheshtala violence

The BJP leader has sought the intervention of the Governor in initiating disciplinary action against the inspector-in-charge of the local Rabindra Nagar police station for allegedly remaining inactive in preventing clashes.

Earlier in the day, he approached the Calcutta High Court seeking a National Investigation Agency (NIA) probe into the Maheshtala clashes and deployment of Central Armed Police Forces (CAPF) personnel in the area where clashes broke out on Wednesday

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