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Mali's cotton output likely to soar 67%
15
Jun '11
Mali President Amadou Toumani Toure has stated that owing to the Government's move of introducing incentives to intensify cotton production, the domestic cotton production for the current season is likely to go up by 67 percent.

The output for the 2011-12 season, which has just begun and would end in February 2012, is expected to rise to 500,000 metric tons, as compared to past five year's average output of 300,000 tons per annum, the President said.

Next to gold, cotton is Mali's second-biggest earner of foreign exchange.

The President had last month declared that the Government would procure cotton from the farmers at a rate of 225 CFA francs or 49 cents per kg (1 kg = 2.2 pounds), which is higher than last year's price of 185 francs. He also said that the state would provide subsidy on various farming inputs like fertilizers.

Fibre2fashion News Desk - India


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