WORLD BANK – COTTON
July 1st, 2002
Keith NuthallCOTTON producers in developing countries face annual losses of some US$9.5 billion because of subsidies benefiting rich countries, according to a new report released this week at the World Bank. The world cotton industry is slumping, with average prices hitting a 30-year low of 42 cents (US$) per pound, halving the incomes of many developing country cotton producers, says the study, Production and Trade Policies Affecting the Cotton Industry, by the International Cotton Advisory Committee. Cutting subsidies would help, said the bank; if the US alone ...
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