US FARM BILL

Keith NuthallTHE EUROPEAN Commission has warned that world cotton prices are likely to be depressed should the US Congress approve the US Farm Bill as currently framed. The law will increase subsidies to American growers, boosting flat rate payments, loans guaranteeing farmers a fixed price for their crop and grants providing farms with an overall minimum income. Said a Brussels paper: "The main thrust of the subsidy regime is 'counter-cyclical,' it has the effect of cancelling out market signals. This means that farmers will continue to over-produce in times of ...


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