“The US Congress is expected to pass a new Agriculture Bill in September which may take care of the concerns raised by Brazil over payment of huge subsidies to US cotton farmers”, a source in the Brazilian government, familiar with the developments told fibre2fashion.
He said, “The US pays subsidies amounting to around US $147 million every year, which undermines the interests of Brazilian cotton farmers. The WTO authorized Brazil to impose reprisals amounting to the same amount on import of any goods or services from the US”.
“However, the new Agriculture Bill which is expected to be approved in September by the US Congress takes care of our concerns. So, if the bill is passed, Brazil will not need to take actions as approved by WTO. We will wait till September and then plan the next course of action”, he informed.
A decade ago, Brazil challenged the US at the WTO, with claims that the US heavily subsidized its cotton farmers, which dragged down prices of the white gold, making it difficult for Brazilian cotton farmers to generate profits. They said the subsidies were in contravention of WTO rules.
Brazil is the fourth largest producer of cotton in the world after China, Indian and US and produced around 2 million tons in the previous cotton season.
Fibre2fashion News Desk - India
Apparel/Garments | On 25th Jun 2018
Italian high-end men's apparel brand Stone Island tops the list of...
Textiles | On 25th Jun 2018
Italy based Tecnorama’s fully-automatic machinery for dispensing...
‘RT3 motto is: Do not check millimetres, check colours.’
Narayan Tex Fab
I find it hard to find professionals in Surat
‘There is huge demand in the Indian lingerie market for non-wired styles.’
Established in 1956 with a small beginning, Embee today manufactures a...
Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...
Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...
The hype around 'designer jeans' was created by him. And the new wave of...
She grew up in the walled city of Old Delhi, completed her studies, and...