BRICS resolve to ensure food security solution by Dec

BRICS members, including India and China, today resolved to ensure conclusion of negotiations for a permanent solution for public stock-holding of foodgrains under the WTO by December, 2015.
"We reaffirmed our commitment to work together to negotiate and make all concerted efforts to agree and adopt a permanent solution to the issue of public stock-holding for food security purposes by December 31, 2015 in line with the decision adopted by the WTO General Council on November 27 2014," said a joint declaration after the three-day meeting of BRICS' agriculture ministers that concluded in Brazil today.
India was represented by Agriculture Minister Radha Mohan Singh . Agriculture Ministers of Brazil, Russia, China and South Africa were also present in the meeting.

"In this joint declaration, public policies for food and nutrition security and the strengthening of family farming are highlighted in detail, the results of which are going to form a key part of the general strategy for ensuring access to food for the most vulnerable populations of BRICS and other developing countries," Singh said at the meeting.
The joint declaration would certainly play a key role in taking forward our agricultural cooperation, he added.
Following an agreement between India and the US, negotiations at the WTO made a headway after it was resolved that the "peace clause" would continue till a permanent solution to the public stock-holding is found.

Under the peace clause, a WTO member gets immunity against penalty for breaching the food subsidy cap. As per the WTO norms, a developing nation can provide food subsidy of up to 10 per cent of the total farm output
Expressing concerns over grave distortion caused by agricultural export subsidies on international trade, BRICS nations also resolved to support WTO talks for eliminating the use of this policy instrument by countries as stated in the 2013 WTO ministerial conference declaration adopted in Bali.
"...Multilateral negotiations should prioritise efforts to create a level playing field by substantially improving market access, eliminating export subsidies and significantly reducing the level of trade distorting domestic support," said BRICS nations in the joint declaration.