Fact Sheet: The High Price of Agricultural Protectionism
- Rich countries spend just over US $1 billion a year on agricultural aid to developing countries, and just under US $1 billion a day supporting their own agriculture sectors. (UNDP, Human Development Report 2005)
- Subsidized sugar exports by the European Union have lowered world sugar prices by about one-third. As a result, more efficient sugar producers in developing countries have lost revenues estimated at US $494 million for Brazil , US $151 for South Africa, and US $60 million for Thailand-countries with more than 60 million people living on less than US $2 a day. (UNDP, Human Development Report 2005)
- Cotton production in West Africa provides a major source of income for nearly 11 million people. When world cotton prices sunk in 2001 due to U.S. cotton subsidies, the region lost about US $190 million and the food and income security of millions was severely threatened.
Sources: International Food Policy Research Institute (unless otherwise noted)