11 sats \ 4 replies \ @Undisciplined 19 Jun \ parent \ on: India's fast growing economy has a problem econ
That doesn't really surprise me. Ukraine is one of the largest wheat producers in the world.
That's not because of Ukraine. India doesn't need to import wheat. It was due to those who hoarded wheat for profiteering.
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Prices are global. You don't need to be importers to be impacted. With Ukraine's supply curtailed, the rest of the world is bidding up wheat prices wherever they can find it.
Don't fall for scapegoating "profiteering" narratives. These are statist inventions meant to pit the public against each other.
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Yes, I understand your point. But here government controls prices for some essential food items and that includes wheat as well. India always have surplus of wheat in government godowns in every district headquarter. Government didn't take action to bridge the sudden demand. That's the whole point of contention.
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Price controls cause shortages. Blame the bad policy, not people trying to navigate it.
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