GENEVA — The global cotton industry is facing higher government subsidies to cotton producers triggered by lower market prices and stiff competition from reformulated synthetics, while stepping up its efforts to produce the natural fiber in a more sustainable manner.
Subsidies to the cotton industry — including direct support to production, border protection, crop insurance funding and minimum support price mechanisms — are estimated at $4.8 billion in 2011-2012, up from $1.4 billion the previous year, concludes a report from the International Cotton Advisory Committee, an association of 41 cotton producing, consuming and trading nations.
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