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Burkina Faso cotton growers to get lower price for produce
18
Apr '13
The minimum support price for cotton growers in Burkina Faso has been reduced by 10 CFA francs per kg for the current season, Interprofessional Cotton Association of Burkina Faso (AICB) has said.
 
Following the reduction in prices, farmers would now get 235 CFA francs per one kg of first grade cotton, against last season’s 245 CFA francs per kg.
 
The minimum price for second grade cotton would be 210 CFA francs per kg.
 
Addressing a press conference, Salif Compaore, director general of Cotton Society Gourma (SOCOMA), a member of the AICB, said they were able to decide on new reduced price due to Government grant, and efforts of industry stakeholders and cotton firms.
 
Mr. Compaore said fall in global cotton prices that started in August last year, formed the basis for reducing the cotton procurement price this year.
 
In spite of a fall in procurement price, AICB expects Burkina Faso’s cotton harvest to reach 730,000 tons during 2013-14 season. 
 
In 2012-13 season, Burkina Faso produced 630,000 tons of cotton, 51 percent more than 417,000 tons of cotton produced in the previous season.
 

Fibre2fashion News Desk - India

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