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SODECOTON loses due to cotton smuggling
02
Jul '11
During the 2010-11 harvest season, Cameroon's Cotton Development Corp., SODECOTON has lost about US$ 31 million or 14 billion CFA francs owing to smuggling of cotton.

In the neighbouring Nigeria, prices of cotton were more than the 200 CFA francs per kg (1 kg = 2.2 pounds) offered by SODECOTON (Société de développement du coton du Cameroun). Hence, farmers preferred to smuggle the cotton across the border to fetch higher price.

Editor's note-It is a normal human tendency to try and get maximum returns, wherever possible. However, people do not tend to take huge risk, unless it is worth the effort.

Fibre2fashion News Desk - India


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