Rice sector subsidies in excess of $100 million for the second year
San Jose, May 8th, 2012. Today Costa Rica reported to the Committee on Agriculture of the World Trade Organization (WTO) that subsidies on rice in 2011 reached $104 million, which exceeds by more than 650% the annual amount permitted under the WTO’s Agreement on Agriculture.
Under current law, the price for producers is fixed as a precautionary measure by the Administrative Tribunal at ₵ 22,076.4 per bag of 73.6 kg of clean dry seed.
This grant, of more than $100 million, is generated by the existing price mechanism, which requires the Costa Rican consumer to pay for the third most expensive rice, according to the Market Monitor (February 2012) of the United Nations and Agriculture Organization (FAO).
Since 2007 Costa Rica has not fulfilled its commitments in this area to not exceed the ceiling laid down in the Agreement on Agriculture of $15,945,000 a year. In 2007 the subsidy received by rice producers amounted to $23,291,081, in 2008 it was $62,477,559, in 2009 $91,743,858 and in 2010 $109 million.
I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction. Wanted partner for financing and/ or construction in the...