India asked G-20 nations to adopt flexibility in their trade policy

27 Jun 2011 Evaluate

In the first agriculture ministers' meeting of G 20, India, the world second largest producer of wheat and rice said, the free export of agriculture commodities could affect the developing countries food security at a time when the international prices are high, and asked them to adopt flexibility in their trade policy.

In the summery note circulated at the agriculture ministers' meeting, the agriculture minister Sharad Pawar said, "Developing countries like India for whom free exports can be detrimental to their food security during the times of high global prices”. The G-20 needs to have flexibility in export policy, just as is in the case of import policy. "Due to the spike in food prices and turbulence in global food market, smooth flow of trade in food commodities has been severely affected," Sharad Pawar added.

As a result, the agri-trade policy needs to be seen in the light of provisions contained in article XI of the General Agreement on Tariffs and Trade (GATT), 1994 and article 12 of Agreement on Agriculture, Sharad Pawar said. The agriculture products get benefits from an important exception to Article XI of GATT, which bans the use of quotas, import or export licenses or similar measures related to the import or export of goods.

"Obviously a country like India which has food self sufficiency only at the margin, has to ensure that substantial hikes in global food prices do not result in domestic shortage due to export," the agriculture minister said.

In start of 2007, India banned export of wheat and in April 2008 it restricted the export of non-basmati rice to boost domestic supplies during the global food crisis. The Sharad Pawar recommended that since restrictions on exports affect food availability in importing countries, there is a need "to evolve some policy to balance the interest of exporting and importing countries in such a situation.

India has opted for trade liberalisation that integrates domestic prices with the trend in international prices but offers protection against high volatility, he added.

Sharad Pawar said that Indian commodity derivative markets weathered the recent global financial crisis far better than many of its western counterparts, primarily due to a stringent regulatory regime in the country to combat price manipulation and excessive price volatility.

The first agriculture ministers' meeting of G-20 was organized in the backdrop of the high international food prices since 2008. The members of G-20 have agreed on common ‘Action-Plan’ to reduce price volatility, moderate the impact on vulnerable countries and create a mechanism for better global coordination.

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