WTO backed by Western countries have always wanted to dismantle support systems for farmers in developing countries including India while pumping in federal payments to its farmers. Trump gave 46 billion dollars in 2020 alone to US farmers.

“In America, for last 6-7 decades open markets have been in operation and the latest that I read is that farmers are saddled with USD 425 billion bankruptcy. Open markets haven’t necessarily been beneficial for farmers even in developed countries."
Credit: @Devinder_Sharma

To ensure that small farmers are not wiped out, the US has been coming out with a Farm Bill every five years. The 2018 Bill expanded the safety net for farmers, making a provision for $ 867 billion the next 10 years in commodity support and several measures.

Instead of leaving farmers to face the volatility of markets, the US introduced the Agricultural Risk Campaign (ARC) and Price Loss Coverage (PLC) programs in the 2018 Farm Bill. Both programs are aimed at covering losses a farmer suffers, & cover 24 commodities, including wheat.

Sounds similar?^
Even China’s agriculture support includes government purchases at above-market prices, as well as market price support programs, where farmers receive a direct payment from the government if market price fall below a minimum set price.

And US opposes it-

This helped increase farm incomes in China and their subsidy was one of the highest in the world ($212 Billion in 2016).

Let’s look at the $103 billion chocolate industry, a Cocoa farmer in West Africa earns less than $1.3 a day (₹100!).

How is that fair? Which IMF or WTO came to their rescue?

US had spent $ 14.8 billion in just four years, between 1998 and 2002, to subsidize a cotton crop valued at $ 21.6 billion. This directly destroyed African cotton producers and there was direct rise in poverty.

These so called international prices are artificially kept low to support the Western countries and their corporates (which control farming).

Same model in India will disastrous to say the least.

Yes private sector needs to be involved in Agri but not at cost of farmer's lives.

So keep all the cheerleaders on the fence be it national or international aside, let the farmers get a good deal and issue be resolved.

Talking of yield-

In Britain, after Milk Marketing Board, which regulated milk prices and marketing, was dismantled, number of dairy farms came down — from 40,000 in 1995 to an estimated 8,310 in 2020. But in the same period- the yield increased at cost of loss of small farmers.

Agri sector in India has one of the largest labour involved, which sector will absorb such huge numbers?

And what is the road map?

Or even for diversification of crop? Where is the planning?

Shortcuts won't work. This involves livelihood of hundreds of millions.