The new scramble for Africa was triggered by a convergence of events: surging demand for biofuels, rising consumption patterns in China and India and the 2008 global food crisis, when the price of corn and wheat tripled, almost overnight. Responding to sudden hyperinflation, rioting and panic buying, at least 30 countries, including Argentina, Vietnam, Brazil, Cambodia and India, banned or sharply reduced food exports. In short order, Japan and South Korea, who import 70 per cent of their grains, joined a parade of countries turning to Africa to lock in means of production beyond their borders.
praneetchawla on 31 Dec 15Today, the 30-share index was trading at 25,965,went up 5 points or 0.02 per-cent. It reached a high of 26000.24 & a low of 25,953.25 in early morning trade.
