Agriculture Minister Sharad Pawar, after meeting the farm ministers from South Asian countries, told reporters that "We have set aside two million tonnes of wheat that will be given to countries which have been asking for it through diplomatic channels".

Although India had banned wheat exports in 2007, analysts say that robust output and higher stocks at government warehouses have enabled India, the world's second-biggest producer, to set aside some wheat for overseas supplies.

The Pusa-1122 variety of rice has been given the 'basmati' status, which means a boost in exports as well as an increase in its price .However, some exporters are worried about the hindrances this may cause in India's efforts to get a geographical indication, or GI, status for the marquee rice variety.

Cotton processors and traders have criticized the Cotton Corporation of India (CCI) for higher cotton prices for this season. CCI is a government agency that deals with the purchase of cotton at minimum support price, fixed by the government. The processors are worried about the high price of Rs 2,850 a quintal and low profit due to competition and contractual processing of cotton.

Hanoi - The world's biggest rice importing and exporting nations met in Vietnam on Friday and approved a plan targeting problems triggered during this year's rice price crisis.

Ministers of agriculture from the 10-nation Association of Southeast Asian Nations (ASEAN) met in the Vietnamese capital of Hanoi to endorse a seven-point action plan developed earlier this year when prices of rice shot up to a record high of 1,000 dollars a ton last April, triggering a world food crisis.

Rome - The United Nations Food and Agriculture Organization (FAO) on Tuesday called for an urgent review worldwide of biofuel policies and subsidies to ensure they protect poor farmers and do not impact negatively on global food security.

"Biofuels present both opportunities and risks. The outcome would depend on the specific context of the country and the policies adopted," FAO Director General Jacques Diouf said in a statement released by the Rome-based agency.

"Current policies tend to favour producers in some developed countries over producers in most developing countries. The challenge is to reduce or manage the risks while sharing the opportunities more widely," Diouf added.

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