Category Archives: Region

Rice farmers join in one of India’s biggest protests

Rice farmers in India have been making global news headlines over the past few weeks for taking part in one of India’s biggest ever protests. The rice farmers are in protest against changes to the law made by Indian Prime Minister Narendra Modi that will significantly change the way they do business. 

The proposed changes to the law currently stand to affect the country;s 146 million farms. The current state run system is said by the Prime Minister to be having an effect of too much constraint on the selling of rice and agricultural industry. As an alternative, Mr. Modi is advocating for market-orientated reforms he believes would improve the rice farmer’s ability to do business in the free market. 

Many of the local rice farmers however feel differently. It is not unusual in India for a farm to be less than three acres in size, and local farmers fear that larger corporations will come in and buy up their smaller plots of land. Their biggest fear is that allowing intervention by these larger companies in this way, the overall price of rice will be lowered and severely affect their business earnings. 

In defiance and protest of the current regulations being overhauled, many rice farmers have chosen to burn their crops. This move comes as a reaction to the pollution response fine and prison time set up by the government, to punish farmers who burn their crops. The fine is up to 10 million rupees, which is roughly $176,000 Australian dollars. 
Protests so far have taken place all over the country, with marches in the capital of Mumbai, and other areas like New Delhi and Punjab. More tension is caused by the protest due to the ongoing coronavirus worldwide pandemic that is currently worsening in India, exacerbated by the gathering of crowds to protest, as well as air pollution caused by crop burning.

The value of money: Malawi sensitises citizens to currency care

The value of money has been a long time mystical notion since its first conception thousands of years ago. The practice of ascribing value to objects and imbuing them with value is an almost magical practice that continues to inspire markets today from the art market to new digital currencies like bitcoin. However, the value of money, or any form of currency, relies on a collectively agreed notion of its worth from a community, without which the object is devoid of its value and made again effectively worthless. 

In Malawi however, the government and national bank are struggling to encourage citizens to care and respect the national currency Kwacha. Dramatically, the Reserve Bank of Malawi (RBM) has estimated an average currency loss of over 12 billion Kwacha annually from misuse by the population. 

The maltreatment of the paper banknotes comes from a tendency by people to fold and place banknotes, often in wet places, causing irreparable damage to the notes. Mistreatment of the notes is said to happen most at markets – especially wet ones selling items such as fish – and more likely to occur during large celebrations such as engagement, wedding and anniversary parties according to Merlyne Yolamu, the commissioner responsible for the Central West Region. 

Yolamu went on to describe the police’s role in continuing to sensitize the public to care for the national currency, and make people more aware of their responsibility in preserving the notes. In a statement she shared how: “We must spread the message on the care of currency in order to save billions of kwacha that are lost by the reserve bank annually through banknotes replacements.” 

With the first credit card in use in 1946, digital banking has been steadily on the rise. As digital currency and contactless payments continue to gain traction throughout the world, it remains to be seen how long Malawi will keep paper banknotes in use before transitioning to more technological formats.


Singaporeans to receive $100 SGD SingapoResdicovers vouchers

In an effort to revitalize home tourism spending after dramatic losses from the impact of COVID-19, the Singaporean government will be issuing each resident with a $100 SGN SingapoRediscovers voucher. In an announcement for further support to identified key areas, the Singaporean government described how it had allocated a 320 million SGD reserve for tourism credits to boost local tourism. The key areas identified as key to transforming Singapore’s economy in a post-COVID world were the aerospace, aviation, tourism sectors. 

The SingapoRedisocvers vouchers are an integral part of the government’s scheme to inject life into the local tourism scene. It hopes that by issuing vouchers to be used as credits in local, national attractions, that the Singaporean public will connect, or reconnect with ‘their local culture and heritage, nature, art, and architecture, while at the same time supporting our tourism sector.’ 

The vouchers will be released to all Singaporean residents over the age of 18 and available via the Singpass from December 2020. Credits can be used until June 2021, so that’s six-months of spending time available for those lucky receivers! Credits can be spent on over 400 local itinerary trips, 200 hotels, and 40 leisure attractions, all approved by the Singapore Tourism Board. 

The move comes as the number of coronavirus deaths worldwide reaches over 1 million. Whilst numbers of new cases each day are still growing exponentially in many places around the globe, Singapore has seen record lows, with only four new cases of coronavirus – the country’s lowest since March 4th 2020 with only two cases – reported on Monday 12th October. This takes Singapore’s total number of cases of the coronavirus pandemic to 57,880. Although 10 new cases of the virus were confirmed on Sunday 11th October, none of these were said to be cases of spreading within the community. All of the 10 patients had been waiting to find out their positive or negative COVID status, as they stayed in quarantine following their entry to Singapore.

Tensions rise between India and Pakistan over Basmati rice

Tension the rise between India and Pakistan over the geographical identification of Basmati rice. The two countries are currently in dispute over the European Union’s identification of the type of rice’s Geographical Indication (GI). In a recent lobby to the EU on September 11th, 2020, India has claimed the rice as being grown at the foothills of the Himalayas on Indian terrain – despite the EU’s assertion that Basmati rice is a joint export of India and Pakistan, in 2006. 

India claims a cultural legacy the basmati name: first recorded reference to basmati rice appears in ‘Heer Ranjha’, a Punjabi poem by Varis Shah in 1766. The Indian application of the name derives from two Sanskrit word roots. The first word ‘vas’ refers to the aroma of the rice, whilst ‘mati’ alludes to the ancient tradition of the rice in Indian culture, meaning ‘ingrained from the origin’. 
The opposition to India’s claim over the rice comes from the Adviser to the Prime Minister on Commerce Razak Dawood. Following a meeting with the Secretary of Commerce, Chairman, Intellectual Property Organisation (IPO-Pakistan), and representatives of Rice Exporters Association of Pakistan (REAP), Dawood declared Pakistan would oppose the designation sought by India with the Geographical Indications (Registration and Protection) Act. This would prevent India from claiming exclusive rights to Basmati rice labelling for products exported to the EU. Such an act would exclude Pakistan from being able to label their exported rice as Basmati, and could significantly damage rice sales that rely on customer’s brand recognition of the rice-growing region. In data from the Pakistani Commerce Ministry, out of the 500,000 – 700,000 tons of rice exported by Pakistan, roughly 200,000 – 250,000 is currently exported to the EU. Pakistan is known around the globe for its quality exports of the famous rice. Rice exports contribute over $2 billion to the Pakistan economy each year and are the second highest-grossing export after textiles.