Agriculture
EU mulls scrapping export subsidies─── SABRINA DEAN 13:55 Tue, 24 Nov 2015
Bloemfontein - The European Union is allegedly pondering the idea of scrapping agricultural export subsidies in future.
This is according to a report by Landbou.com relating to a news item on the website of the Dutch agri business portal, Agri Holland.
The report states that the EU and five other big exporters of agricultural products are soon going to table a proposal that World Trade Organisation (WTO) member countries get rid of export subsidies on these products.
The report states that this type of subsidy is only really used in Europe as an instrument to manage crises, but that the scrapping of such subsidies could be a bitter pill to swallow for countries like China, India and the USA.
The proposal would see all export subsidies removed over a period of 11 years, with rich countries expected to comply within three years. It is expected to be dealt with during an inter-Ministerial meeting in Nairobi, Kenya, next month.
Source: landbou.com
