Australian rice farmers have beaten their heavily subsidized US competitors to grab a large share of Taiwan's newly opened market, industry officials said yesterday.
SunRice Australia, the marketing arm of the Australian Ricegrowers Cooperative, said it would fill a 24,000-tonne contract for brown rice, around 20 percent of Taiwan's rice market quota.
SunRice chief executive Gary Helou said the company had to beat intense competition from the US underpinned by massive subsidies.
The new US Farm Bill had increased subsidies to US ricegrowers, giving them a payment higher than the international price, he said.
"US subsidies are a real threat to our business as they promote uncommercial production and depress prices," he said.
Taiwan's WTO membership now requires it to open up its rice market.
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