European Union ready to talk food stock policy at WTO

The European Union has expressed its willingness to negotiate on global trade norms regarding the purchase, stockpiling, and distribution of food to ensure food security. This is seen as a breakthrough as India and 80 other countries have been calling for a deal on food security, arguing that current rules do not adequately address market failures such as food hoarding and market speculation. The EU has shown a willingness to negotiate the issue of public stockholding with India, which has proposed a permanent solution that considers inflation and recent reference prices.