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Slump in cotton industry awaits Govt aid
02 Feb '08
1 min read
Cotton companies are horror stricken from the adversities inflicted as a result of insufficient supply of raw cotton. The situation is so grave that it has virtually forced cotton companies on the brink of closure. As a consequence, a number of workers have been forced to leave their jobs.
The sharp cut in the supply of cotton raw material can be largely attributed to undependable weather that have impacted the region for over three years now. Low produce from the cotton fields, high cost of inputs and dwindling world market price of lint have all had their toll on the textile industry of Ghana.
Government support has been sought to overcome the crisis and it is hoped that with Government policies like that of withdrawing subsidies to the industry vis-a-vis the lifting of tariffs on the importation of lint cotton, the industry can be revived and brought back to existence.
Need of the hour is to improve extension services and lend support to the farmers for improving quality and per hectare yield. Besides, the situation also calls for investor motivating policies to attract private investment into the industry.
The sharp cut in the supply of cotton raw material can be largely attributed to undependable weather that have impacted the region for over three years now. Low produce from the cotton fields, high cost of inputs and dwindling world market price of lint have all had their toll on the textile industry of Ghana.
Government support has been sought to overcome the crisis and it is hoped that with Government policies like that of withdrawing subsidies to the industry vis-a-vis the lifting of tariffs on the importation of lint cotton, the industry can be revived and brought back to existence.
Need of the hour is to improve extension services and lend support to the farmers for improving quality and per hectare yield. Besides, the situation also calls for investor motivating policies to attract private investment into the industry.
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