Thursday, December 08, 2005

Cotton Prices Going Up?

Earlier this year, we read of the WTO declaring that government subsidies given to domestic cotton farmers were illegal because it depressed cotton prices for world-wide producers.

Today, WWD reports:

The removal of trade-distorting subsidies by wealthy countries may increase world market prices for cotton and other agricultural commodities by as much as 15 percent, the United Nations Food & Agriculture Organization said Wednesday. Link

Now we know which side of the WTO fence you're on.

(And yes I know I link to WWD wayyyyy too often, but that just shows a dearth of quality denim industry news out there. That's one of the reasons I started this blog...)

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