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L.N. Revathy

COONOOR, Sept. 3

IN view of the country's commitment to the World Trade Organisation, there is likely to be some deduction in the bound rate for commodities.

Announcing this at the commodity outlook session at the Upasi annual meet, the Union Commerce Secretary, Mr Dipak Chaterjee, hinted that the WTO talks could have an impact on the plantation commodities too, since the developed nations would want a linkage in terms of lowering of the bound rate for imports.

Besides this, a parallel deduction in tariff on non-agricultural goods could also take place. He said the applied rates for a majority of the commodities were on par with the bound rates and any deduction in the bound rate would have to be reflected.

He said there was no `ready' prescription to combat the global declining trend of commodity prices, especially plantation commodities, which were under pressure due to recessionary trend and structural reasons.

He asked the planters to look for reasons specific to a commodity and the outcome of the discussion currently on at Geneva on WTO Agreement on Agriculture.

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