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US Peanut Subsidy Could Put 20,000 Nicaraguan Workers at Risk

By: PanAm Post Staff - May 20, 2014, 8:15 am

EspañolOn Sunday, the American Chamber of Commerce in Nicaragua (Amcham) warned that more than 20,000 jobs could possibly disappear in Nicaragua if the United States decides to carry out its plan of subsidizing peanut exports.

Amcham says Nicaragua produces about 75,000 peanut products each year and the risk lies in that they are all destined for exportation. If the United States subsidizes its peanut exports, the impact will be “serious” says Amcham, since the industry represents at least US$105 million annually in export revenues for Nicaragua.

“We are directly monitoring the application of a bill approved by the US Congress, which subsidizes peanut producers in the United States,” said the president of Amcham, Alfredo Artiles, in a statement. He highlighted that Amcham representatives in Nicaragua have already contacted other Amcham representatives in Argentina to find some form of legal halt to United States’ plans, since the South American country is one of the most threatened by the new US policy.

“We are confident in finding certain elements in laws and treaties to avoid US farmers export subsidies. We believe the subsidy is the biggest risk, since we would not be able to complete,” concluded Artiles.

Source: El Nuevo Diario.