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Cotton growers expect to reap rich dividends
25
Jul '11
The cotton industry in the west Central African country of Cameroon has been severely impacted by the global economic crisis. However, farmers are now expecting a rise in the price that cotton would fetch when they sell the crop to the Society for the development of cotton in Cameroon (Sodecoton).

Farmers sold cotton at 180 Central African Francs (CFA) to Sodecoton in 2009 and at above 200 CFA in 2010. This season, cotton cultivators are expecting the price to be at least 255 CFA per kilo.

The number of farmers growing cotton has also increased from 175,000 in 2010 to over 200,000 today, according to the Cameroon's National Confederation of Cotton Producers (CNPC-C).

In the 2009-10 season, cotton output declined to 110,000 tons from 146,000 tons during the 2008-09 season, mainly owing to the global financial crisis.

In Nigeria, which borders Cameroon to its west, cotton was purchased last year by businessman at 600 CFA per kilo. But Cameroon cotton cultivators are forced to sell their crop to Sodecoton at a much lower price, as they are given grants by the society, which helps them to procure inputs and tools.

In 2009, Sodecoton subsidized a bag of fertilizer by 6,800 CFA and a further 4,400 subsidy was given in 2010.

Fibre2fashion News Desk - India


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