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Govt to subsidize key inputs for cotton farmers
17 Jul '09
1 min read
The government of Cameroon has decided to subsidize inputs to its cotton farmers according to the Finance Minister, Mr Menye. He said that the government would subsidize fertilizers to help farmers raise output as well as insulate them from the recessionary trends.
The subsidy will be paid through the government owned cotton company; Sodecoton, which will be provided with US $13 million to buy fertilisers to be distributed to cotton farmers at a reduced rate, which could generate interest among farmers to grow cotton once more.
He added by saying that this subsidy was being paid despite the fact that the government was against paying subsidies to farmers. Rising input costs in the last few years had led to a decrease of cotton production in the country since 2006.
The subsidy will be paid through the government owned cotton company; Sodecoton, which will be provided with US $13 million to buy fertilisers to be distributed to cotton farmers at a reduced rate, which could generate interest among farmers to grow cotton once more.
He added by saying that this subsidy was being paid despite the fact that the government was against paying subsidies to farmers. Rising input costs in the last few years had led to a decrease of cotton production in the country since 2006.
Fibre2fashion News Desk - India
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