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.
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