(Ecofin Agency) - Global public subsidies allocated to the cotton sector amounted to $5.4 billion in 2018/2019. The figure was provided by the International Cotton Advisory Committee (ICAC) in its “Production and Trade Subsidies Affecting the Cotton Industry” report published November 24. The previous year, subsidies was $5.5 billion.
According to the ICAC, 10 nations have engaged in producer support mechanisms, namely Colombia, Côte d'Ivoire, China, USA, Mali, Greece, Senegal, Spain, Burkina Faso, and Turkey.
China and the USA grants $3.5 billion and $1.2 billion respectively in subsidies. In West Africa, Burkina Faso leads with $35 million dedicated to cotton inputs, including fertilizers and seeds. Next comes Mali ($35 million), Côte d'Ivoire ($15 million) and Senegal ($1 million).
As a reminder, cotton is grown on 30 to 36 million hectares worldwide. In Africa, it is the main source of income for millions of farmers in more than 15 countries.
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Source: ecofinagency.com