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WTO study favors Brazil on U.S. soybean subsidies issue

(Sept. 14, 2001 -- CropChoice news) -- The World Trade Organization issued a study siding with the Brazilian government in its opposition to U.S. soybean subsidies, which we reported last week (Brazil blames U.S. soybean subsidies for low prices).

The $2.7 billion that Washington sent to U.S. soybean growers in 2000, up from $40 million in 1991, has affected the market price for soybeans, which are the main Brazilian export.

The United States is the world's largest soy exporter with shipments worth $6.4 billion annually, followed by Brazil with $4.5 billion.

Representatives of both countries will try to agree on a course of action.