WTO subsidies 'out to kill' Russian cotton exports
07 Jul '06
1 min read
Russia which exports 80 to 85 percent of its cotton output, will be at loss due to abolition of direct and indirect cotton subsidies by World Trade Organization in 2006 making raw cotton expensive.
Russian textile industry was chronically short of raw cotton and regularly bought cotton from abroad.
Later, it commenced cultivation of cotton on the Lower Volga region since the second half of the 1990's.
Now with the growing yield and increasing areas covered under cotton cultivation would pull down the prices, industry insiders opine.
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