ABSTRACT
The marketing loan program, implemented in 1986/87, and the competitiveness provisions of the 1990 farm act, implemented in 1991/92, have been successful from the US point of view in offsetting the impact of the loan rate and maintaining the US share of world cotton exports at nearly 30% of world trade. Without the loan rate and competitiveness provisions, the US share of world trade could have fallen to between 19% and 27% in 1991/92 and to between 17% and 25% during the current season.
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