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<ul class="summary-list"><li>Rising fertilizer prices and supply disruptions are threatening the world's food supply.</li><li>Corn, wheat, and soybeans together take about 70% of the fertilizer used in the US.</li><li>The fallout would likely hit hardest in Africa.</li></ul>In the film "Avengers: Infinity War," the evil Thanos gathers half a dozen mystical stones, snaps his fingers, and wipes out half the population of the universe.On Earth, the Marvel supervillain might have achieved his ruinous ends by doing away with artificial fertilizer. Synthetic fertilizers have boosted agricultural productivity so much in the past seven decades or so that half of the people alive today owe their existence to this often-overlooked innovation, which has <a href="https://www.bbc.com/news/business-38305504">been described</a> as the greatest of the 20th century. Rising fertilizer prices and supply disruptions resulting from war and other hazards are now threatening the world's agricultural bounty, and with it, food security. Without enough fertilizer, farmers can't grow enough food.The fertilizer shortage is at the heart of <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.nationalgeographic.com%2Fenvironment%2Farticle%2Fglobal-food-crisis-looms-as-fertilizer-supplies-dwindle">various food crises</a> emerging around the world.<div type="image" title="Maize field in Kenya." height="2642" width="4000" msid="93281254" hostid="261"></div>Global prices of fertilizer <a href="https://blogs.worldbank.org/opendata/fertilizer-prices-expected-remain-higher-longer">jumped by 80% last year</a>, and they're forecast to be higher still by year's end. The longer these heightened costs persist, the more people will be at risk of going hungry. Some subsistence farmers <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Ffarms-are-failing-as-fertilizer-prices-drive-up-cost-of-food-11642770182">can't afford to purchase</a> fertilizer at the current prices.For those of us who don't grow what we eat, higher fertilizer prices often get passed along as higher food prices. A UN food-price <a href="https://www.fao.org/worldfoodsituation/foodpricesindex/en/">index</a> is off its highs but still up 23% from a year ago. And for some people, particularly in <a href="https://www.fao.org/newsroom/detail/global-report-on-food-crises-acute-food-insecurity-hits-new-highs/en">developing countries</a> but also in <a href="https://chicago.suntimes.com/2022/7/18/23268537/food-prices-inflation-low-income-households-consumer-spending-david-soll-the-conversation-op-ed">affluent ones</a>, cost increases are making it harder to afford enough food."It's a crisis," said Harold van Es, a professor of soil and water management at Cornell University. "There are always winners and losers, and when it comes to food, there are hundreds of millions of people who potentially are losers."The price spikes for fertilizer are widespread, affecting the three most widely used types of agricultural additives — nitrogen, which alone <a href="https://environmenthalfcentury.princeton.edu/research/2020/boosting-fertilizer-efficiency-feed-growing-population-and-save-planet">supports</a> more than half of the world's population, as well as phosphorus and potassium.In the US, these three main fertilizer types account for <a href="https://acsess.onlinelibrary.wiley.com/doi/abs/10.2134/agronj2005.0001">most of what farmers need</a> to sustain crop yields. And higher costs for these fertilizers translate to even more pressure on farmers, as well as higher grocery bills. That's because America uses staples such as corn, wheat, and soybeans to do everything from <a href="https://www.ers.usda.gov/topics/crops/corn-and-other-feedgrains/feedgrains-sector-at-a-glance/#:~:text=Most%20of%20the%20crop%20is,industrial%20alcohol%2C%20and%20fuel%20ethanol.">feeding</a> livestock to making baked goods and producing <a href="https://mosoy.org/about-soybeans/soybean-uses/soybean-uses-overview/">vegetable oil</a>. And corn, wheat, and soybeans together <a href="https://www.fb.org/market-intel/too-many-to-count-factors-driving-fertilizer-prices-higher-and-higher">account for about 70%</a> of the fertilizer used in the US.<h2>What's causing the problem? </h2>There are as many culprits behind the fertilizer mess as there are heirloom vegetables at a roadside farm stand: Higher energy costs — for oil, coal, and natural gas, which is used to make nitrogen fertilizers — are one.Then, add in global supply shocks resulting from poor weather and the war in Ukraine. The <a href="https://openknowledge.worldbank.org/bitstream/handle/10986/37223/CMO-April-2022.pdf">World Bank</a> said the conflict could <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fukraine-war-pushes-millions-of-the-worlds-poorest-toward-starvation-11657466470">fan hunger and malnutrition</a> in low-income countries in northern Africa, Asia, and the Near East.There are other factors behind the crisis. A mix of sanctions on fertilizer producers, including Belarus, and <a href="https://public.tableau.com/app/profile/laborde6680/viz/ExportRestrictionsTracker/FoodExportRestrictionsTracker?publish=yes">moves</a> by China and Russia to limit the fertilizers they send abroad are choking off some of the flow that would normally make it into world markets.Lingering supply-chain disruptions brought on by the pandemic and <a href="https://openknowledge.worldbank.org/bitstream/handle/10986/37223/CMO-April-2022.pdf">years of insufficient investment</a> in production capacity also play a role.<h2>How bad will it get?</h2>In the US, farmers' costs for fertilizer <a href="https://www.federalregister.gov/documents/2022/03/17/2022-05670/access-to-fertilizer-competition-and-supply-chain-concerns">surged more than 60%</a> last year, with nitrogen fertilizer prices almost doubling and potash fertilizer prices jumping more than 70%."Agriculture is really good at fixing what we call supply shocks," said David Widmar, an agricultural economist and a <a href="https://aei.ag/david-widmar/">managing partner</a> at Agricultural Economic Insights. "What we struggle with is when everything gets tight." High food prices are pushing farmers to plant more crops, such as corn, which accounts for about half of the commercial fertilizer used in the US. Increased production could help bring down corn prices, eventually. But before then, every new row of corn adds to fertilizer demand. The Fertilizer Institute, a trade group, reported that a big price increase in corn harvested in 2021 from mid-2020 <a href="https://www.tfi.org/content/complex-truth-about-fertilizer-prices">drove demand</a> for fertilizer.The World Bank <a href="https://openknowledge.worldbank.org/bitstream/handle/10986/37223/CMO-April-2022.pdf">projects</a> that fertilizer prices will jump almost 70% this year before pulling back 11% next year. <h2>Are there any fixes? </h2>To get by, some farmers will use less. Silas Muchiri uses about half as much fertilizer as he once did on his small farm in Kenya, where he grows crops and raises goats to feed his family. Muchiri began slashing his fertilizer use before global prices surged last year by placing his soybean and maize crops close together on his 2-acre plot. The configuration yields a riotous thicket of green and allows one plant type to provide nutrients that benefit another. His efforts, along with steps such as applying manure where it's most likely to be absorbed by roots, have helped Muchiri, 52, boost what he produces for himself, his wife, and their two children. That increase, plus the money he saves on commercial fertilizer, means he can keep more of what he earns from selling at the local market. "Unlike before, I'm able now to pay school fees," said Muchiri, reached by video on his farm in Embu County, Kenya, northeast of Nairobi. <div type="image" title="Moses Mbogo in front of a field of maize." height="4000" width="6000" msid="93281256" hostid="261"></div>Other farmers who can are <a href="https://www.farmprogress.com/fertilizer/large-brazil-soybean-farmer-cut-fertilizer-use">cutting back</a> as well. But for many, there's a limit to how much they can do without and still achieve adequate harvests to feed a growing global population.High costs could one day push some farmers to depend less on artificial fertilizers and instead use cover crops and more animal byproducts, such as <a href="https://texasfarmbureau.org/farmers-seek-alternative-fertilizer-sources-as-prices-soar/">manure from chickens</a>. Farmers could also become more judicious about how much fertilizer they're using by testing soil more often to determine which nutrients are needed. Steps such as rotating crops could also help.Finding alternatives and using less could be good because fertilizers made from fossil fuels exacerbate the climate crisis. Yet they're crucial, particularly in tropical areas, such as Brazil, that tend to have poor soil. Some fertilizer producers are also ramping up production. The World Bank forecasts that price hikes for urea, a nitrogen fertilizer, should begin to lessen next year because new production in Brunei, Nigeria, and India is expected to come online.<h2>Where will the challenges hurt most? </h2>The result of the surging fertilizer prices and supply disruptions is likely to hit hardest in Africa. Anastasia Mbatia, a technical manager for agriculture for the nonprofit <a href="https://www.farmafrica.org/">Farm Africa</a>, which facilitated Insider's video call with Muchiri, said countries such as Ethiopia and Kenya were on the brink of a fourth season of crop failures because of drought. Higher costs mean commercial fertilizer will be out of reach for farmers already struggling to feed their families."We are going to expect another impact from less use of fertilizer," she said. Mbatia expects many farmers will fall further behind without help, she said, adding, "Instead of getting out of poverty, they're sinking further."

Surging fertilizer costs make it harder for farmers to earn a living, provide for their families, and feed the world

Hello all,My name is Allison DeAngelis, a senior <keyword id="6354525" type="UNKNOWN" weightage="100" keywordseo="healthcare">healthcare</keyword> reporter covering biotech and pharmaceutical companies, and welcome to Insider Healthcare. Today in healthcare news:<ul><li><a href="https://www.businessinsider.com/covid-variants-called-escape-mutants-could-throw-us-back-into-lockdown-2021-5">Coronavirus variants called "escape mutants" threaten the progress we've made</a>; </li><li><a href="https://www.businessinsider.com/sanders-drug-companies-should-relinquish-ip-rights-to-covid-19-vaccines-2021-5">Sen. Bernie Sanders continues to call for drug companies to relinquish their rights to Covid products</a>;</li><li><a href="https://www.businessinsider.com/alife-health-raises-95-million-seed-round-innovate-ivf-treatments-2021-4">Alife Health wants to stop the huge bills that come with infertility treatments</a>.</li></ul>If you're new to this newsletter, <a href="http://newsletter.businessinsider.com/join/4np/newsletter.businessinsider.com/join/4np/insider-healthcare">sign up here.</a> Comments, tips, fun facts? Email me atadeangelis@insider.com or tweet <a href="https://twitter.com/ADeAngelis_bio">@ADeAngelis_bio</a>. Now, let's dig into the latest in healthcare news...I don't know about you, but I'm itching to get out of my house. I'm tired of these walls (so much so that I'm considering repainting multiple rooms - send your suggestions of a neutral paint color for an entryway/staircase). I find myself watching many travel YouTubers' videos from 2018 and 2019.So, the idea that US travelers could be welcome abroad is really enticing. I'm not fully vaccinated yet, but I quickly clicked on my colleague Aria Bendix's piece detailing <a href="https://www.businessinsider.com/how-to-travel-us-to-europe-vaccine-2021-5">which countries are allowing US travelers and what kind of paperwork you'd need to have</a>.Are you ready to travel outside of the US? Where would you go? Let me know. <h3><a href="https://www.businessinsider.com/covid-variants-called-escape-mutants-could-throw-us-back-into-lockdown-2021-5">How coronavirus variants called 'escape mutants' threaten to undo all our progress</a></h3><ul><li>People are starting to feel hope that the pandemic has finally turned a corner. </li><li>But we're entering one of the most precarious moments in the pandemic as we race vaccines against variants.</li><li><a href="https://www.businessinsider.com/covid-variants-called-escape-mutants-could-throw-us-back-into-lockdown-2021-5">The big question now is, have we seen the worst variations this virus has to offer? </a></li></ul><a href="https://www.businessinsider.com/covid-variants-called-escape-mutants-could-throw-us-back-into-lockdown-2021-5">Full story here &gt;&gt;</a><a href="https://www.businessinsider.com/sanders-drug-companies-should-relinquish-ip-rights-to-covid-19-vaccines-2021-5"><div type="image" title="Bernie Sanders" height="1084" width="1445" msid="82389759" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/sanders-drug-companies-should-relinquish-ip-rights-to-covid-19-vaccines-2021-5">Bernie Sanders says US drug companies should relinquish intellectual property rights to COVID-19 vaccines</a> </h3><ul><li>Sen. Bernie Sanders repeated calls for pharmaceutical companies to relinquish <keyword id="388837" type="PERSON" weightage="60" keywordseo="intellectual-property">intellectual property</keyword> rights to COVID-19 vaccines.</li><li>If companies like Pfizer and Moderna relinquished IP rights, their vaccines could be produced globally. </li><li><a href="https://www.businessinsider.com/alife-health-raises-95-million-seed-round-innovate-ivf-treatments-2021-4">But the companies have opposed these calls, claiming risks to vaccine safety.</a></li></ul><a href="https://www.businessinsider.com/sanders-drug-companies-should-relinquish-ip-rights-to-covid-19-vaccines-2021-5">Read more &gt;&gt;</a><a href="https://www.businessinsider.com/alife-health-raises-95-million-seed-round-innovate-ivf-treatments-2021-4"><div type="image" title="Paxton Maeder-York" height="1000" width="1334" msid="82389761" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/alife-health-raises-95-million-seed-round-innovate-ivf-treatments-2021-4">Women struggling to get pregnant face huge bills for infertility treatments. Alife Health is using AI to make IVF more affordable.</a></h3><ul><li><keyword id="6414006" type="UNKNOWN" weightage="60" keywordseo="fertility">Fertility</keyword> tech startup Alife Health just raised a $9.5 million seed round. </li><li>It uses artificial intelligence to make the IVF process more effective and affordable. </li><li><a href="https://www.businessinsider.com/alife-health-raises-95-million-seed-round-innovate-ivf-treatments-2021-4">Founder Paxton Maeder-York hopes to help create personalized treatment plans for IVF patients. </a></li></ul><a href="https://www.businessinsider.com/alife-health-raises-95-million-seed-round-innovate-ivf-treatments-2021-4">Here's how they plan to do it &gt;&gt;</a>More stories we're reading today:<ul><li><a href="https://www.businessinsider.com/vaccine-manufacturer-fled-india-covid-19-threats-2021-5">The leader of the world's biggest vaccine manufacturer said he fled India because of menacing threats</a> (Insider)</li><li><a href="https://www.businessinsider.com/digital-vaccine-passports-not-safe-former-hacker-cybersecurity-2021-4">I'm a former hacker and I believe the current round of digital vaccine passports pose real security risks.</a> (Insider)</li><li><a href="https://www.wsj.com/articles/digital-health-startups-are-booming-their-customers-are-overwhelmed-11620039601?st=mvrkk6zgqspxxck&amp;reflink=article_copyURL_sharehare">Digital health startups are booming. Their customers are overwhelmed.</a> (The Wall Street Journal)</li><li><a href="https://www.businessinsider.com/how-to-invest-in-cannabis-video-panel-poseidon-merida-2021-5">Two veteran investors on how to bet on US marijuana legalization </a>(Insider)</li><li><a href="https://www.statnews.com/2021/05/03/six-patients-with-dementia-went-to-mexico-for-unproven-gene-therapy-biotech-ceo-claims/">Six patients with dementia went to Mexico for an unproved gene therapy, a biotech CEO claims</a> (STAT)</li></ul>-Allison

Coronavirus variants called 'escape mutants' threaten our progress in the pandemic

Betul (Goa), <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> is likely to sign a USD 78 billion deal to extend <keyword id="19905315" type="General" weightage="20" keywordseo="lng" source="keywords">LNG</keyword> imports from Qatar by another 20 years till 2048 at rates lower than current prices, sources said. <keyword id="20475720" type="General" weightage="20" keywordseo="petronet-lng-ltd" source="keywords">Petronet LNG Ltd</keyword>, India's biggest liquefied natural gas (LNG) importer, is likely to sign a deal with QatarEnergy to extend a 2004 deal to buy 7.5 million tonne a year of gas for producing electricity, making fertilizers and converting to CNG, on the sidelines of India Energy Week (IEW) here. Sources said the renewal is at a "significantly" lower price than the current deal. At current prices, India will save about USD 0.8 per million British thermal unit at the renewed terms. <keyword id="20387238" type="General" weightage="20" keywordseo="petronet" source="keywords">Petronet</keyword> imports 8.5 million tonne per year (MTPA) of LNG from Qatar under two contracts. The first 25-year deal is to expire in 2028 and is now being extended for 20 additional years. The second deal for 1 MTPA entered into in 2015, will be negotiated separately, sources said. Qatar's energy minister and top officials of QatarEnergy are attending the IEW here. India, the world's third biggest energy consumer, sees natural gas as a transition fuel for migrating to net zero carbon emissions by 2070. As part of this, the government is targeting to raise the share of natural gas in the country's energy mix to 15 per cent by 2030 from 6.3 per cent now. Sources said the current deal is priced at 12.67 per cent of prevailing Brent crude oil prices plus a fixed component of USD 0.52 per million British thermal unit. Under the new contract, the slope would remain more or less the same but the fixed charge of USD 0.52 would be scrapped, they said. Also, India will save an additional USD 0.30 per mmBtu on shipping charges as Qatar has agreed to convert the deal to Delivered Ex Ship (DES) from Free on Board (FOB), thereby undertaking responsibility of shipping. At USD 80 per barrel Brent crude oil price, the annual 7.5 MTPA import will cost USD 3.9 billion annually and over a 20-year period it would total to over USD 78 billion. While 7.5 MTPA of LNG is bought by Petronet, the firm's promoters state-owned Indian Oil Corp (<keyword id="19942852" type="General" weightage="20" keywordseo="ioc" source="keywords">IOC</keyword>), Bharat Petroleum and GAIL (India) buy a combined 1 MTPA of LNG. Sources said the new deal will allow the Indian buyers to decide which terminal in India will receive cargoes. Under existing deals, Qatar delivers LNG at Dahej in Gujarat. Sources said the freedom to decide on the arrival terminal will result in additional savings in cost for transporting the fuel through pipelines within the Indian grid.

India to sign $78 billion deal to extend Qatar LNG imports

<ul><li>India intends to ban <keyword id="659688" type="UNKNOWN" weightage="20" keywordseo="Commercial-Surrogacy">commercial surrogacy</keyword> and recognise altruistic surrogacy through close relatives. </li><li>The business of surrogacy tourism is estimated to be worth $2.3 billion per annum. </li><li>An Indian surrogate can make as much as ₹1.2 million per birth. </li></ul>Thousands of infertile couples across the world are ready to pay millions to rent a womb. That yearning has turned commercial surrogacy into a lucrative business with thousands of fertility clinics cropping up across the country. The business of surrogacy tourism is estimated to be worth $2.3 billion per annum. An Indian surrogate can make as much as ₹1.2 million per birth — high income for women who otherwise work as domestic help et cetera. Women from economically backward sections earn 10 years worth their salary by renting their wombs. However, a debate over unethical practices prompted the government to put an end to the exploitation of poor women. The Surrogacy Bill, 2019 is one of the key bills that will be introduced in parliament’s winter session starting from November 18, 2019. The Surrogacy Bill, 2019 The Surrogacy Bill, 2019 aims to ban commercial surrogacy and allow altruistic surrogacy for Indian citizens. Altruistic surrogacy says that surrogates should not be monetarily rewarded. However it covers medical expenses and insurance during the pregnancy. In 2016, the government presented the Surrogacy (Regulation) Bill, 2016 and received several recommendations from the Standing Committee on Health and Family Welfare. Later, the bill lapsed when the Lok Sabha dissolved. The government then replaced the 2016 bill with The Surrogacy (Regulation) Bill 2019 and introduced it in the Lok Sabha on July 15, 2019. No single parent, unmarried, live-in or gay couples please The Surrogacy Bill, 2019 doesn’t allow unmarried, gay, live-in couples or single parents to go in even for an altruistic surrogacy. The couple will have to prove that they are married and one of them medically unfit to reproduce naturally. The bill also prohibits couple having biological children to use surrogacy. “The certificate of eligibility to the intending couple is issued upon the fulfilment of the following conditions: (i) the couple being Indian citizens and married for at least five years; (ii) between 23 to 50 years old (wife) and 26 to 55 years old (husband); (iii) they do not have any surviving child (biological,adopted or surrogate), except if the child is mentally or physically challenged or suffers from a life threatening disorder; and (iv) such other conditions that may be specified through regulations,” said the bill. Surrogate mothers should be close relatives The bill also lays down several eligibility criteria to be a surrogate mother. The bill says surrogate mothers can rent womb only once. And they should have given birth to children before that. Surrogate mothers cannot be a foreign national, or a non-resident Indian. “To obtain a certificate of eligibility from the appropriate authority, the surrogate mother has to: (i) be a close relative of the intending couple; (ii) be an even married woman having a child of her own; (iii) be 25 to 35 years old; (iv) not have been a surrogate mother earlier; and (iv) have a certificate of medical and psychological fitness. Further, the surrogate mother cannot provide her own gametes for surrogacy,” said the bill. A blowback to the IVF centres The bill will be a setback for all the IVF centres in the country which earn millions through facilitating surrogacy. These IVF clinics charge between ₹10-12 lakhs from a couple for an entire surrogacy package. After India legalised surrogacy in 2002, the business of fertility clinics flourished and surrogacy tourism boomed. The country now has 3,000 clinics and then unregulated industry is wider and deeper, spread across the country.

India moves to regulate the thriving business of commercial surrogacy

<ul><li>Instead of allowing vaccine makers to charge customers different prices for the same vaccine, the government could offer subsidy for those who need it the most via direct cash transfer.</li><li>Allowing different prices offers an incentive to move the stock of vaccines to the buyers who pay more i.e. private hospitals.</li><li>That may leave a lot of poorer Indians waiting in queues for a long time to get their share of the jabs.</li><li>Even with direct cash transfer, there may be a need to cap prices and to declare hoarding as a criminal act to ensure that the kind of leakage seen in ration shops is not replicated in vaccines as well. </li><li>There are arguments against direct benefit transfer as well. </li></ul>The new prices for COVID-19 vaccine, Covishield, has triggered a debate in India. Some argue that the prices are too high for everyone to be able to afford, and some say that it should be free for all and the government should bear the cost. The government already has a lot of expenses piling up as it manages the pandemic, and hence, there are also those who see merit in arguing that those who can pay for the vaccine, must pay for it. However, there is a problem with letting private and for-profit companies charge different prices from different customers. These are the prices fixed by Serum Institute of India (SII) for the Covishield vaccine: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">If the vaccine is sold to… </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price per dose </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central government </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹150 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State government </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹400 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Private hospitals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹600 </td></tr></tbody></table> India is a developing country with millions of poor people with poor access to, and little money to spare for, healthcare. By allowing vaccine makers to choose the pricing based on who is buying the vaccine, the government may give the producer an incentive to direct more vaccines to the more expensive private hospitals, whereas a majority of the country still depends on state-run facilities. “Pricing should be uniform. Both the central and state governments should pay the same price for the vaccine. The government should also cap the price of the vaccine sold at private hospitals. Even the administrative charges should be capped. Otherwise a family of four may end up paying a lot for vaccination,” Doctor Sanjeev Bagai, Chairman and Managing Director of the New Delhi-based Nephron clinic told Business Insider. “Direct benefit transfer is also an option. And the cost of vaccination should be covered by all insurance companies,” Bagai added. <div type="image" title="Kolkata:Beneficiaries stands in a queue outside a health centre to receive a dos..." msid="82200586" hostid="261" caption="&amp;lt;p&amp;gt;Beneficiaries stands in a queue outside a health centre to receive a dose of Covid-19 vaccine, amid surge in coronavirus cases, in Kolkata.Photo/Swapan Mahapatra)(&amp;lt;/p&amp;gt;"></div> The case for direct reimbursement for the cost of vaccine One may argue that there are covenants in place to ensure that the company sends an agreed amount of supply to government facilities. However, decades of similar policy experiments have taught us that such agreements are inefficient and provide a fertile ground for corrupt practices. The failure of such mechanisms gave birth to the idea of Direct Benefit Transfer (DBT). It could be deployed here as well, given that patients coming in for vaccination are already being asked to submit their Aadhaar (unique identity number) details. Vaccine makers should charge the same price from all customers. Those who access it via government agencies, or any other filter as may be applicable, should be allowed to get the subsidy reimbursed to their bank account. This has been effectively used in transferring other subsidies like the ones for cooking gas and fertilisers. The government’s own estimate is that it has saved over ₹1.78 lakh crore ($25 billion) in subsidy leakage because of DBT. The argument against direct benefit transfer There are two arguments here against direct benefit transfer. One from R Ramakumar, Professor at Tata Institute of Social Sciences, who wants vaccines to be free for all as it is in countries like US, UK and China. The other argument is from Dr Arvind Virmani, an economist and the former Chief Economic Advisor to the government of India, who wants drug prices to be decontrolled totally and do a direct cash transfer on a larger scale and not limit it to vaccines alone. “Supply chain has to be developed. It can’t be done overnight. The data on production and sale of vaccines is transparently available from the producers, for the government, Astrazeneca and others to see. To introduce DBT now, it would mean taking out funding from other budgeted activities like infrastructure construction. Right now, vaccination is working smoothly. Don’t disrupt it,” he told Business Insider. Aside from the fact this may add a bureaucratic layer, Ramakumar’s contention is that by allowing state-run facilities to charge less, and private hospitals to charge more, there is an incentive of corruption in distribution. India already has decades of bad experience. from the public distribution system a.k.a the ration shops, where the subsidised stock is moved out to be sold at a higher price. A cap on prices, and a crackdown on hoarders by making it a criminal act, may be necessary to counter this, even with reimbursement of the vaccine cost via direct transfer to bank accounts. Virmani’s take is that there is a case to be made for both deregulating drug prices, as well as direct cash transfer for a variety of reasons, in India but that can’t be debated in the middle of a pandemic. “All drugs are controlled. We should be discussing decontrol of drugs. That’s not the problem right now. For the last 12 months, I have been saying you can create a direct cash transfer in 4 months. It should still be considered,” he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/while-covid-19-is-making-millions-gasp-for-breath-in-india-state-administrations-are-trying-to-hoard-oxygen/articleshow/82199390.cms">While COVID-19 is making millions gasp for breath in India, state administrations are trying to hoard oxygen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/covid-19-lockdowns-and-curfews-affecting-worlds-fourth-largest-automobile-market/articleshow/82195326.cms">There is a virtual lockdown in the world’s fourth largest automobile market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/revolut-appoints-former-flipkart-exec-paroma-chatterjee-as-its-india-ceo/articleshow/82181199.cms">Revolut starts India operations, appoints former Lendingkart, Flipkart executive Paroma Chatterjee as CEO</a>

If the COVID-19 vaccine prices are too high for some, then why not use direct benefit transfer

As economic activities gain momentum, <keyword id="2385401" type="General" weightage="20" keywordseo="industry-players" source="Orion">industry players</keyword> are turning optimistic about the performance of the <keyword id="6395867" type="General" weightage="20" keywordseo="manufacturing-sector" source="Orion">manufacturing sector</keyword>. The <keyword id="12077865" type="General" weightage="20" keywordseo="FICCI-Manufacturing-Survey" source="Orion">FICCI Manufacturing Survey</keyword> for July-September showed that after experiencing subdued Q1 (April-June 2021-22), the <keyword id="23268" type="General" weightage="20" keywordseo="Outlook" source="Orion">outlook</keyword> seems to have improved significantly in Q2. The percentage of respondents reporting higher production in second quarter of 2021-22 was much above the 50 per cent mark -- around 61 per cent. This was significantly higher than the similar percentage of last year's Q2 quarter (around 24 per cent). A <keyword id="6355001" type="General" weightage="20" keywordseo="FICCI" source="Orion">FICCI</keyword> statement also said that the assessment is also reflective in order books as 72 per cent of the respondents in July-September 2021-22 expected a higher number of orders in comparison to April-June 2021-22. However, the survey revealed that a high percentage of respondents are experiencing rising costs of doing business and production. The cost of production as a percentage of sales for manufacturers in the survey has increased for 80 per cent respondents in Q1 2021-22. This is considerably higher than that reported in Q4 2020-21, where 72 per cent respondents recorded an increase in their production costs. "Industry respondents have attributed the hike in productions costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, drastic reduction in volumes due to lockdown, lower capacity utilisation, high freight charges and other logistic costs, increased cost of raw materials, power cost and high interest rates," the statement said. The latest quarterly survey assessed the sentiments of manufacturers for Q2 (July-September 2021-22) for eleven major sectors namely automotive, capital goods, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics and electricals, metal and metal products, paper products, textiles, textiles machinery, toys and miscellaneous. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over 2.7 lakh crore. The survey showed that the overall capacity utilisation in manufacturing was 72 per cent in Q2 2021-22, which again reflects signs of recovery in manufacturing. The future investment outlook, however, remains that of cautious optimism, as 32 per cent respondents reported plans for capacity additions for the next six months. It also noted that the cost of doing business remains a cause for concern for the sector. High raw material prices, high cost of finance, uncertainty of demand, shortage of skilled labour and working capital, high logistics cost, low domestic and global demand, excess capacities due to high volume of cheap imports into India, unstable market, high power tariff, are some of the major constraints which are affecting expansion plans of the respondents, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/motorcycle-engine-vibrations-can-degrade-iphone-camera-performance/articleshow/86134711.cms">Motorcycle engine vibrations can 'degrade' iPhone camera performance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/perseverances-rock-sample-to-give-insight-into-mars-history/articleshow/86136571.cms">NASA Perseverance's rock sample to give insight into Mars' history</a>

Outlook for manufacturing sector improves in second quarter, high cost of production causing worry, says FICCI survey

The fifth round of the National Family Health Survey (2019-21), or NFHS-5, reveals that <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s Total Fertility rate (TFR) has dropped below replacement level—the level of fertility at which a population exactly replaces itself from one generation to the next. This indicates that the country is on course to achieving population stabilisation. However, the number of people in the country will continue to grow for some time due to a high proportion of young people across <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. With over 36 crore people aged between 10 and 24, according to the 2011 Census, India has the world's largest young population. According to the <keyword id="224361" type="General" weightage="50" keywordseo="unfpa" source="Orion">UNFPA</keyword>’s World Population Report, <keyword id="1334" type="General" weightage="50" keywordseo="china" source="Orion">China</keyword> is second with nearly 27 crore young people, followed by Indonesia (6.7 crore) and the US (6.5 crore). Today, every fifth person in India is an adolescent (10-19 years), and every third is a young person (10-24 years). Every year, more than 1.2 crore people enter the workforce in India, largely from northern states. There is ample evidence that the population momentum, given the country's large base of young people, is the primary driver of India’s population growth. <cmsannotation type="cmsannotation" annotationid="Demographic divident" comment="subhead" text="Demographic divident">Demographic divident</cmsannotation> The world’s population is growing older, having a high dependency ratio—a measure of the number of dependents aged zero to 14 and over the age of 65, compared with the total population aged 15 to 64. India certainly has a window of opportunity and will continue to enjoy a distinct advantage of having a younger population for some time, which will influence the country’s development and economic and social investment decisions. The sheer size of the adolescent and youth population reflects the wealth of human resources in the country. This advantage is termed ‘demographic dividend’, which means the working-age population has numerically overtaken the non-working-age population. India’s dependency ratio has fallen from 75% in 2001 to 65% in 2011. It is projected to fall further to 50% in 2021 and remain around that level for the next 20 years. This window of opportunity will slowly narrow in 2041 and close in 2061 when the dependency ratio likely rises to 67%. For India to leverage this opportunity and achieve sustainable social and economic development, we will have to urgently and greatly step up investments into the health, nutrition, education, vocational training, skills and employability of the working-age population. In addition, we must ensure appropriate labour and migration policies and good governance. The country will have to place adolescents and youths at the centre of its policies, investments and programmes and align them with the demographic shifts in the states to leverage the demographic dividend. <cmsannotation type="cmsannotation" annotationid="Priorities for sustainable economic growth" comment="subhead" text="Priorities for sustainable economic growth">Priorities for sustainable economic growth</cmsannotation> 1. Health The evidence shows that demographic dividend significantly contributed to the economic growth in <keyword id="1334" type="General" weightage="50" keywordseo="china" source="Orion">China</keyword>, Korea and Japan. These countries invested in the young population's health, education and capacity-building. Though India has made significant progress, China is ahead on health, particularly reproductive health indicators. China reports an infant mortality rate of 12 deaths per 1,000 live births, while the number stands at 30 for India. At 27 deaths per 100,000 live births, China’s maternal mortality rate is also much lower than that of India, which sees 103 deaths per 100,000 live births. China reports a stunting rate of 8 per cent among children under the age of 5 years against India’s 36 per cent. India needs to ramp up its efforts towards ensuring <keyword id="3279397" type="General" weightage="50" keywordseo="universal-health" source="Orion">Universal Health</keyword> Coverage. 2. Education Quality education, skill-building initiatives and increasing employment could make the working-age population more productive. With greater labour force participation rates and increased per capita resources for investment in poverty reduction and human capital development, India can witness economic growth and better living standards even with a high population. It is also essential to ensure an investment climate and labour policies to expand and sustain safe and secure employment. 3. Women empowerment We must also invest in girls’ education, particularly ensuring that all girls complete secondary school education. Global evidence suggests that this helps girls to delay marriage and pregnancy. According to research, a girl with some secondary education is about six times less likely to be married as a child than a girl with only primary education. Women’s empowerment and a more gender-equitable environment will help women to complete education and enter the labour force. Women’s empowerment is often inversely correlated with fertility rates. All these require increased public spending towards universal access to primary, secondary and tertiary education, skilling programmes, quality health services, including sexual and reproductive and mental health services, and nutrition. Providing comprehensive sexuality education for all young people is essential. Investing in strengthening mechanisms for improving access to these services for adolescents will greatly impact savings and capital formation, which will translate to higher economic growth. A study in The Lancet concludes, “improving the physical, sexual, and mental health of adolescents aged 10 to 19 years at the cost of about $4.60 per person per year could bring a ten-fold economic benefit by averting more than 12 million adolescent deaths and preventing more than 30 million unintended pregnancies over a span of 15 years”. Since a fifth of India’s population is adolescents, their development is also an economic opportunity. It would also enable the country to achieve many Sustainable Development Goals by 2030. <keyword id="1221171" type="General" weightage="50" keywordseo="alok-vajpeyi" source="Orion">Alok Vajpeyi</keyword> is the Lead—Core Grants &amp; Knowledge Management at the Population Foundation of India. This column is part of a year-long (2022-23) campaign on the theme “Only One Earth: Sustaining People, Planet and Prosperity” by Business Insider India’s <a href="https://www.businessinsider.in/sustainability">Sustainability Insider</a>. Disclaimer: The opinions expressed by the author/interviewee do not necessarily reflect the views of Business Insider India. The article has been partly edited for length and clarity.

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