Business
Farmers Call for Minimum Support Prices and Protest Wheat Imports During UN Food Security Session
Chishtian:
In a bold move on the first day of the UN Committee on World Food Security’s annual plenary session, the Pakistan Kissan Rabita Committee, in collaboration with the Asian Peoples’ Movement on Debt and Development (APMDD) and the Sawera Foundation, held a seminar and demonstration advocating for food sovereignty and sustainable agricultural practices. This year’s session also commemorates the 20th anniversary of the Right to Food Guidelines, a framework established in 2004 to guarantee access to adequate and sustainable food.
The seminar brought together small farmers, civil society members, government representatives, and agricultural experts to address pressing issues surrounding food security and farmers’ rights in Pakistan.
Farmer leader and general secretary of the South Asia Peasant Coalition, Tariq Mehmood, expressed frustration over the government’s failure to support small farmers. “It is unacceptable that small farmers are struggling to sell their wheat while the government refuses to buy their yield. Instead of bolstering local production, the government’s decision to import wheat undermines farmers and threatens food security in the country. We demand adequate minimum support prices for wheat and sugar to protect our farmers,” he stated.
The farmers’ organizations have been vocal in their criticism of the government’s choice to import wheat in the latter half of last year and the first quarter of this year. This influx has resulted in market saturation and a decline in prices. Following the devastating floods of 2022, which severely impacted wheat farming, Pakistan faced a shortage in early 2023. Data from the Ministry of National Food Security and Research indicates that over 3.5 million tonnes of wheat were imported between September 2023 and March 2024, where prices were considerably lower. Consequently, by April, when local farmers began their harvest, the national and provincial food storage departments were holding over 4.3 million tonnes of wheat in reserve.
Chaudhary Mohammad Abbas Advocate, another farmer leader, criticized the government’s policies, stating, “The decision to allow unlimited private importation of wheat has devastated small farmers. With storage facilities full, small farmers are forced to sell their wheat to alternative sources at significantly reduced prices, resulting in substantial losses. Without competitive and minimum support prices for our staple crops, we cannot ensure food security in the country.”
Following the seminar, participants gathered outside the venue for a demonstration, brandishing placards that demanded a comprehensive climate action plan. The calls underscored the urgent need to address climate impacts and ensure protections for small farmers.
After a catastrophic fire five years ago, the Notre Dame Cathedral de Paris reopened this month looking almost the same as it did when it was first constructed in 1163.
The massive reconstruction project was a testament not just to the hard work of the French people – but also to the lasers, drones and other advanced technology that gave rebuilders a window into the building’s past.
“The time frame wouldn’t have been possible without the record of what existed,” Amy Bunszel, executive vice president of architecture, engineering and construction at 3D-software company Autodesk, told CNN. Her company was a major part of creating a model of the building as it existed before the fire, giving the reconstruction effort a sort of guide for what to do. “It would’ve required a lot more guesswork. Imagine taking millions of tourist photographs (as a reference point) versus having one consolidated perfect representation.”
Back in 2022, when the labor market was so hot that Beyoncé even released a song about it, Americans were job hopping in large numbers, boosting their salary in the process.
The Great Resignation was in full swing.
That fueled fears of a “wage-price spiral” — where wages and prices perpetually rise and feed off each other.
But what appeared to be a hot job market was actually a symptom — not the cause — of the recent bout of inflation, according to new research that explored the consequences of unexpected rising prices on the labor market.
The Container Store has filed for bankruptcy. It is the latest well-known retailer to fall victim to customers cutting back on discretionary spending.
The 46-year-old company said in a statement late Sunday that filing for Chapter 11 bankruptcy protection will help it “bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability.” The Container Store revealed in court documents that it has about $230 million in debt and just $11.8 million in cash on hand, but will receive $40 million in fresh financing.
The chain’s 102 locations and website will remain open for orders during the process, which is expected to take 35 days to complete.
“The Container Store is here to stay,” said CEO Satish Malhotra in a statement. “Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach, and strengthen our capabilities.”
Payments to vendors and suppliers will be made as normal and all customer deposits and orders will be honored and delivered, the company said. The Container Store plans to emerge as a private company when the Chapter 11 process is complete.
The company’s Sweden-based Elfa brand, described as a “premium customizable storage system,” isn’t included in the bankruptcy.
The filing comes a few weeks after a deal with Beyond, the parent company of Bed Bath & Beyond and Overstock.com. The Container Store was expected bring Bed Bath & Beyond-branded products to some stores, but that deal appears to be in jeopardy. Beyond previously said that the financing deal was in doubt because the Container Store was struggling to reach an agreement with its lenders.
The Container Store’s stock has already been delisted by the New York Stock Exchange because it failed to meet the exchange’s financial standards.
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