FOR FARMERS' CAUSE: Former Minister Vadde Sobhanadreeswara Rao (centre) releasing case study papers on market dynamics at the workshop on `Building Trade Safety Nets in Agriculture Systems in South Asia', in Hyderabad on Monday.

HYDERABAD: Former Minister Vadde Sobhanadreeswara Rao has urged the Centre and the State Governments to put in place trade safety nets in the agricultural sector to protect the interests of farmers.

Inaugurating a workshop on `Building trade safety nets in agricultural systems in South Asia' here on Monday, he said, contrary to expectations, the WTO regime had brought prosperity only to developed countries and MNCs. As a result of massive subsidies in the developed nations, prices of agricultural commodities were depressed in the developing world. Citing an example, he said while the US produced two per cent of rice in the world, its share in exports was around 13 per cent. This was affecting farmers' income in the developing countries. Suggesting the setting up of a price stabilisation fund, he stressed the need for stepping up farm lending.

Adverse terms

Ch. Hanumantha Rao, member, National Advisory Council, Prime Minister's Office, said adverse terms of trade was one of the factors for agricultural distress and called for addressing the problem. Mahendra Dev, Director, CESS, pointed out that agriculture growth rate in the last decade was less than two per cent. Linu Mathew Philip, Research Officer, Centre for Trade and Development, New Delhi also spoke.

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