WTO: Bali bash set for a crash as India sticks to guns on food stockpiling

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Commerce Minister Anand Sharma talks with Canada's Minister of International Trade Ed Fast during the 9th Ministerial Conference of the WTO in Bali, Indonesia. (AP) Commerce Minister Anand Sharma talks with Canada's Minister of International Trade Ed Fast during the 9th Ministerial Conference of the WTO in Bali, Indonesia. (AP)
SummaryAnand Sharma claims the country was not isolated on concerns over food security.

price (MSP) has to remain below the external reference price (ERP) determined on the basis of prices prevailing during 1986-88. The difference between the acquisition price (the applied administered price) in a particular year multiplied by the quantity acquired counts towards the Amber Box of trade-distorting subsidies which are capped at 10% of value of production. New Delhi's concern is if this ceiling is not raised, then, at its present level and given the food security law, India may cross the same in 3-4 years.

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