Home / Knowledge / News / Textiles / African cotton farmers in serious trouble
African cotton farmers in serious trouble
07
Feb '09
The cotton growing farmers and ginners in the African continent are in serious trouble. Most of the domestic and worldwide companies who had signed contracts to purchase cotton are reneging on the same.

The new cotton season began in the midst of the economic meltdown and the resultant slowdown in the textile and apparel manufacturing sector. This lead to a crash in prices of cotton in the months of October and November.

New York cotton futures were ruling at three year lows in the same period. All these factors combined to put pressure on the poor cotton farmers who saw their harvested cotton crops lying idle in their godowns.

The buyers of the African cotton were also unable to purchase the same due to a liquidity crisis, despite the attempts of farmers to sell off the white gold at whatever prices they could get from the cotton buyers.

Subsidies given to US farmers by their government are also a matter of concern for the local agriculturists. Since they can avail of fat subsidies, the US farmers can afford to sell their crops at lower prices, which puts at a disadvantage, the poor farmers worldwide.

In light of the above, the cotton farmers are expected to switch over to other cash crops, which might pressure on cotton arrivals in the next cotton season of 2009-10, if the slowdown was to cease by that time.

Fibre2fashion News Desk - India


Must ReadView All

AEPC concern over apparel exports fall; envoys meet CEA

Apparel/Garments | On 17th Nov 2017

AEPC concern over apparel exports fall; envoys meet CEA

India’s Apparel Export Promotion Council (AEPC) has expressed concern ...

Moody's improves India's rating

Textiles | On 17th Nov 2017

Moody's improves India's rating

Moody's Investors Service has upgraded the Indian Government’s local...

Sweden in talks with Birlas for smart textiles project

Textiles | On 17th Nov 2017

Sweden in talks with Birlas for smart textiles project

Sweden is seeking a collaborative project with the Aditya Birla Group ...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search