Farmers rejoice as rivals’ export subsidies axed

Australian farmers are celebrating an historic breakthrough in international trade talks that puts an end to agricultural export subsidies. The agreement between more than 160 members of the World Trade Organisation will see the immediate removal of subsidies by developed nations. Developing nations will follow by 2018. National Farmers Federation president Brent Finlay said Australian farmers, whose exports are not subsidised, would be big winners from the first major agricultural deal in the WTO for more than 20 years.