G33 nations urge WTO members to work on permanent solution to issue of grain stock for food security

The G33 group of countries on Sunday expressed serious concern over lack of progress in agriculture trade negotiations and urge the WTO members to work on a permanent solution to the issue of public stockholding of grains for food security purposes.

The G33 group includes 47 developing and least developed countries. In a joint statement, the G33 group also said that it is the right of the developing country to use the Special Safeguard Mechanism (SSM) as an important instrument against major import surges or sudden price declines.

The members should agree and adopt a decision on SSM by the 14th WTO Ministerial Conference (MC), it said.

However, on the issue of public stock holding, the G33 statement has sought a permanent solution in the 13th Ministerial Conference beginning on Monday in Abu Dhabi. MC is the highest decision making body of the World Trade Organisation (WTO).

“The G-33 co-sponsoring Members,… urge all (WTO) Members to make all concerted efforts to agree and adopt a permanent solution on the issue (public stock holding),” the G-33 Ministerial Statement on Agriculture Trade Negotiations at the 13th WTO Ministerial Conference said.

A vast majority of G33 members recognise the critical importance of public stock holding for food security purposes for developing countries in meeting their food and livelihood security, as well as rural development imperative, including supporting low-income or resource-poor producers.

The public stock holding (PSH) programme is a policy tool under which the government procures crops like rice and wheat from farmers at the minimum support price (MSP) and stores and distributes foodgrains to the poor.

Source: Telangana Today