Rice Industry Welcomes Consultations Regarding India Trade Distortion

The United States and other World Trade Organization Members are initiating consultations with India on their trade-distorting rice subsidies. Current WTO rules allow governments to subsidize up to ten percent of the value of commodity production. However, the Indian government continues to subsidize more than half of the value of production for several commodities, including rice and wheat. India’s lack of rule-following has reshaped global agricultural production and trade channels, according to Representative Rick Crawford, an Arkansas Republican. Crawford says, “This announcement is a long overdue step in the right direction in combatting bad actors like India and its rice subsidies to give our nation’s agriculture producers a level playing field.” USA Rice Chair Bobby Hanks says, “India makes up nearly half of global rice trade and much of its exported rice benefits from the government-established floor price, and then exported at low prices, distorting trade.” Australia, Canada, Japan, Paraguay, Thailand and Uruguay joined the U.S. in the effort.

Related articles

Mississippi River Shipping Rates Hit Record High

Harvest season is in high gear, and U.S. farmers have another supply chain challenge. Bloomberg says there aren’t enough barges moving goods up and down the shrinking Mississippi River. Drought is drying a vital...

FSA to Consider Eliminating District Committees

Farm Service Agency Administrator Zach Ducheneaux told lawmakers late last week that he’ll give serious consideration to the recommendation to replace the FSA’s district committee system. Industry Update Dot Com says the USDA’s Equities...

Senate Votes on USDA Nominees Off Until After Elections

USDA nominees for top trade and food safety posts will now have to wait until after the midterm elections in November for Senate confirmation votes. The Senate wrapped up work Thursday to head home for...

Exports Keep Adding Value to the Red Meat Supply Chain

U.S red meat exports continue to post solid numbers. Erin Borror, an economist with the U.S. Meat Export Federation, spoke during the Ag Outlook Forum in Kansas City. She says exports continue adding value...

Economist: Recent Farm Income Forecast Reason for Concern

Earlier this month, the Department of Agriculture released its 2022 Farm Sector Income Forecast, which showed a mixed bag for the farm economy. USDA’s Economic Research Service predicts producer cash receipts will increase 21 percent...

Latest articles

%d bloggers like this: