India will build a pitch to find a lasting solution to the problem of public stockholding for food security at the WTO meeting starting in Geneva on June 12, an official said.
Also, issues including agricultural subsidies and the World Food Program will be on the agenda of the 12th Ministerial Conference, the highest decision-making body of the 164-member World Trade Organization (WTO), officials said.
The Indian delegation will be led by Commerce and Industry Minister Piyush Goel.
“Finding a lasting solution to the public stockholding will be our main demand,” the official added.
Under global trade rules, the food subsidy bill of a WTO member country should not exceed 10 percent of the production price based on the reference price of 1986-88.
As part of the permanent solution, India has called for things like the revision of the formula for calculating food subsidy caps and the inclusion of programs implemented after 2013 under the scope of the ‘Peace Clause’.
As an interim measure, at the Bali ministerial level meeting in December 2013, WTO members agreed to establish a popular arrangement called the Peace Clause and pledged to negotiate an agreement for a lasting solution.
Under the peace treaty, WTO members have agreed to refrain from challenging a border violation set by a developing country in the WTO Dispute Resolution Forum.
This will continue until the food stockpile problem is permanently resolved.