India is opposed to that methodology to calculate MPS. India, along with more than 45 countries of the G-33 farm coalition, had demanded that the MPS must be calculated by using an external reference price of a recent period instead of 1986-88, which was taken into consideration after the Uruguay Round of trade negotiations.
But the United States, the European Union, Japan, Norway and Switzerland vehemently blocked India’s efforts for changing the methodology. Moreover, the United States has used the rupee for calculating the market price support, while India calculates in dollar terms, which reportedly makes a tremendous difference The former was wrong to use total production for the calculation of MPS as opposed to India’s calculation based on the procured production, analysts point out.
The United States wants a robust discussion on the issue at the next COA meeting scheduled for November 26-27. (DS)
Fibre2Fashion News Desk – India
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