India accused of distorting global rice markets, media reports

Published 2024년 11월 27일

Tridge summary

The United States, along with a group of WTO member countries including Argentina, Australia, Canada, Ukraine, the EU, and Uruguay, have brought concerns to the World Trade Organization about India's market practices in rice and wheat. They allege that India's overproduction has dominated global markets, accounting for over 40% of rice exports in 2021 and 2022, and significant wheat exports. The countries contend that India's market price support for rice and wheat is out of line with WTO guidelines, with rice subsidies estimated to exceed production costs by 87% and wheat subsidies ranging from 67% to 75%. They have called on India to provide more accurate data to address these concerns.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A group of World Trade Organization (WTO) member countries led by the United States has accused India of distorting global rice markets by overproducing in violation of the organization's rules, a source familiar with the matter told reporters in Geneva. "The United States has accused India of overproducing, making it the world's largest rice exporter, accounting for over 40% of global rice exports in 2021 and 2022, and a major wheat exporter. The US has argued that such practices distort global markets and hurt small producers in developing countries," he said. The source added that the US estimates that India's market price support policy for rice exceeds the cost of production by 87%, while wheat prices have ranged from 67% to 75%, well above the 10% cap set for developing ...

Source: Zol