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CFA Economics: India’s Epic Waste(s)

November 30, 2013
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We read the news everyday and are very aware about current affairs. We know exactly what is happening regarding politics and Tehelka’s predicament.

But do we know the Raw Facts? I don’t think we do. Not always!

Here is one: India is the world’s second largest producer of Perishable goods (Fruits and vegetables) and they are wasting this potential by throwing away fresh produce worth $1,330,000 every year because of the country's lack of adequate cold storage facilities and refrigerated transport (source Emerson Climate Technologies).

Here is some data about the global annual wastage of food:

#CFA Economics: Current Affairs

It is visible here that Industrialized Asia is second on the list, clashing with Europe. So, if we talk about India, it has very good potential to produce Fruits and vegetables but it lacks the necessary facilities for storage and quick delivery.

If we talk about farmers, we see that they produce vegetables and wish to sell it immediately. But incidentally it is not possible because there is no wholesale market regulated by the government. If they go to the usual wholesale market, then the farmers will receive comparatively less money for their goods.

At this point, it is necessary to say that India needs to take some urgent steps to prevent this wastage: -

1) India needs to open warehouses with good storage facilities like refrigerators so they can reduce this wastage to 20% approximately.

2) Maintain a good communication, pick-up and dispatch facility with the hopes that it will reduce wastage to 25%.

#CFA Economics: Current Affairs

It is good to be one of the largest producers in the world. But it remains a tall claim as long as the waste produced is also one of the highest in the world.

If you wish to add to this discussion, feel free to post your comments below!


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