India is set to push for a permanent resolution to the issue of public stockholding for food security at the upcoming WTO meeting in Geneva, starting on June 12, according to an official.
Additionally, topics such as agricultural subsidies and the World Food Programme will be discussed at the 12th ministerial conference, which is the highest decision-making body of the 164-member World Trade Organization, the official noted.
The Indian delegation for the meeting will be led by the Commerce and Industry Minister.
“Our main demand will be to find a permanent solution to public stockholding,” the official emphasized.
According to global trade rules, a WTO member country’s food subsidy bill should not exceed 10 percent of the value of production based on the reference price of 1986-88.
As part of the permanent solution, India has requested changes to the formula for calculating the food subsidy cap and the inclusion of programs implemented after 2013 under the “Peace Clause.”
As a temporary measure, WTO members agreed at the Bali ministerial meeting in December 2013 to establish a mechanism known as the Peace Clause and committed to negotiating a permanent solution.
Under the Peace Clause, WTO members agreed not to challenge any breaches of the prescribed ceiling by a developing nation in the WTO’s dispute settlement forum.
This clause will remain in effect until a permanent solution to the food stockpiling issue is reached.
