MARKET DEVELOPMENT
WTO criticizes subsidies given to U.S. soy produce
WTO criticizes subsidies given to U.S. soy produce
Brazil, Sep 11, 2001 (Gazeta Mercantil/SABI via COMTEX) -- A study made bythe WTO about the trade policy of the United States favors the position ofBrazil in questioning the huge subsidies given by Washington to its soyproducers. These subsidies affect the main Brazilian exports product. Thesubsidies jumped from US$40mil in 1991 to US$2.7bil in 2000. The U.S. isthe world's largest soy exporter with shipments worth US$6.4bil annually,followed by Brazil with US$4.5bil. Representatives of both countries, themain competitors in the international market, will meet and try to reachan agreement.