THE rich world generously subsidises its farmers. Between 2004 and 2006, OECD countries spent an average of $280 billion annually propping up agriculture—29% of the value of farm receipts. Farmers in Norway and Iceland receive the highest subsidies at 66% of receipts; New Zealanders receive a tiny 1%. However support for farmers is on the wane. Only Turkey hands out more than it did in the late 1980s.

AFP