US, Canada accuse India for high MSP on Pulses at WTO
Commodity Online | February 14 2019
UPDATED 12:10:48 IST

India Rice export prices continue decline on weak demand

Brent Oil hits yearly high of $75 as Russian exports cut

Govt sets kharif foodgrain production target at 147.9 MT

Agriculture prices to fall 2.6% this year: report

India Crude Oil production declines 4.15% in FY19

US and Canada have accused India at the World Trade Organization (WTO) for higher minimum support price (MSP also referred as market price support) for five Pulses like Chickpeas, Pigeon Peas, Black matpe, Mung beans, and Lentils, and have submitted their own steeper calculations for inspection of members.

India’s market price support for the five Pulses is about 26 times higher at Rs 69,923 crore instead of the notified Rs 2,667 crore, as per a joint submission made by the countries to the WTO.

It appears that India’s market price support for pulses is vastly in excess of what it has reported to the WTO. Canada and the US look forward to future discussion of the significance of India’s market price support for pulses for both India’s market and for world markets, both with India and with other members, the submission said.

It is important for India to defend its own calculation of MSP as it is classified as ‘trade distorting support’ at the WTO which is capped at 10 per cent of production value. In case India’s ‘trade distorting support’ exceeds the cap, it will either be forced to discontinue the support programs, failing which it may have to pay penalties.

 

Commodity Arrivals Rate
Mustard Oil NR 9650.00
Coconut Oil 1 17500.00
Arecanut 70 2600.00
Sugar NR 3700.00

More

×