China slams countries attacking India at WTO over wheat export ban
China came out openly in favor of India at a recent WTO agriculture meeting, where rich countries again attacked New Delhi for its wheat export ban. “The representative of China said it was not right to target India, especially since the purpose of New Delhi’s wheat export regulations was also to ensure that it could continue to supply countries and neighbors with which it had agreements,” said a Geneva-based trade official. Told Activity area.
Beijing has criticized countries like the UK, which again suggested at the WTO Agriculture Committee meeting this week that the wheat export ban was the main cause of the price spike. global. “China has reprimanded countries which it believes have done nothing on their side to stop speculation in the global market and instead blamed countries like India,” the source said.
India had banned the export of wheat from the country to cool rising domestic prices and ensure adequate supplies in the country following fears that the wheat crop could be hit due to an unseasonal heat wave.
Members including the US, EU, Japan, Paraguay and Brazil previously said global wheat prices climbed 6% on the first day of trading on Chicago Board of Trade futures. following India’s announcement of a wheat export ban on May 13.
India maintained that it was not a major wheat exporter and that the ban had no significant impact on world prices.
Lamenting that the recent WTO Ministerial Conference did not deliver much on agricultural liberalisation, the United States, Australia and Japan backed the idea of a withdrawal in September to give a new start to the elections.
India has warned against trashing the Ministerial and Bali mandates on public stockholding and the special safeguard mechanism for developing countries, the source said. India said it would be a step backwards if members talked about building on previous work while throwing the mandates from the Bali and Nairobi ministerial decisions into the trash. “India said some nations, in moral preaching, should stop looking for scapegoats if progress in negotiations fails. He said developing countries have learned enough to protect their own interests and can see through preaching accompanied by hidden agendas harmful to their interests,” the source added.
July 23, 2022