Compiled by this website: Cameroon cotton farms were forced to close
Cameroon’s Cotton Farms Closing on Rising Input Costs
By Pius Lukong
April 14 (Bloomberg) — Cotton farmers in Cameroon are being forced out of business by rising input costs, according to Iya Mohammed, general manager of Sodecoton, the state-owned cotton company.
A 40 percent rise in the cost of fertilizer during the past three years has resulted in the number of cotton producers falling by about 35 percent, he said by phone from Garoua, in northern Cameroon, on April 11. Production this year is therefore expected to fall to about 150,000 metric tons, half the quantity that was produced in 2007, he said.
Cotton, mostly grown by about 227,500 small-scale farmers in the north of the country, is Cameroon’s fifth-largest foreign exchange earner.
Subsidies to producers in richer nations have depressed global prices, threatening the livelihoods of millions of people in developing countries, according to the International Monetary Fund.
Sodecoton is 59 percent-owned by the government, while the rest is held by the Compagnie Francaise de Developement du Textile.
Cameroon cotton farm was forced to close
April 14 (Bloomberg) -Dy due to increased investment costs, Cameroon’s cotton farmers were forced to close the factory, and Cameroon cotton development company was A state-owned cotton enterprise, the company’s general manager Mohammed said in an interview.
Over the past three years, fertilizer costs have increased by 40%, resulting in a 35% decline in the number of cotton producers, he said in a telephone interview on April 11 from Garoua, Cameroon’s northern region. Production is therefore expected to fall by about 150,000 tonnes this year, half of which was produced in 2007, he said.
Cotton, mainly grown by about 227,500 small-scale farmers in the north of the country, is Cameroon’s fifth largest source of foreign exchange earnings.
According to a report by the International Monetary Fund, production subsidies in rich countries have driven down prices and threatened the livelihoods of hundreds of millions of people in developing countries.
59% of Sodecoton’s shares are owned by the government, and the remaining shares belong to the French Textile Development Group.
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights, please contact us and we will change or delete it as soon as possible.
AA
