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Export restrictions in 2023
November 19 , 2024
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- Indian farmers were implicitly taxed $120 billion in 2023, the highest among 54 countries, due to export bans, duties or other policies.
- Among analysed 54 countries, net support to farmers in India has been negative throughout the last two decades but fluctuated markedly.
- Budgetary transfers and subsidies were to the tune of $10 billion.
- Overall, this led to a negative total market price support of $110 billion.
- India had the highest negative price support, followed by Vietnam and Argentina.
- India’s negative support had constituted 62.5 per cent of all such taxes globally in 2023.
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