by
Mark Ritchie, Sophia Murphy and Mary Beth Lake
The first in a series of publications from IATP that examine the issues facing the WTO at the Cancun Ministerial. The report looks at the cost of production of corn, soybeans, cotton, wheat and rice, and compares the cost to the price at which these commodities are sold on international markets. In all cases, the commodities were sold below the cost of production a practice known as export dumping. Moreover, the document details how the dumping begins right here at home, at the farmgate, where farmers are selling their crops for prices up to 40% below their cost of production.