Cotton growers in Burkina Faso would get 225 CFA francs for one kilogram of produce for the 2014-15 season, compared to the previous season’s price of 245 CFA francs per kilogram, the Interprofessional Cotton Association of Burkina (AICB) has announced, Afriquinfos reported.
The AICB members expect the country’s raw cotton production to go up to 800,000 tons in the 2014-14 cotton season, while the price of cotton will continue to decline in the world market.
On the basis of the three-year average price trend, AICB has determined the floor price of 225 CFA francs per kilogram of raw cotton of the first choice for the next season, while the second choice cotton would have price of 200 CFA francs.
The decrease in cotton price should not act as a discouragement for farmers, as their input prices would also decline due to a Government grant of over 9 billion CFA francs (approx. US$ 18 million), KarimTraoré, AICB president said.
Moreover, banks are also going to reduce the rate of interest on credit granted to cotton growers, he added.
In 2013-14 season, braving difficult and poorly distributed rainfall, farmers in Burkina Faso produced 750,000 tons of cotton, making the country the largest cotton producer in Africa. During the season, farmers got about 95 billion CFA francs for their produce.
In 2012-13 season, Burkina Faso produced 630,000 tons of cotton, 51 percent more than 417,000 tons of cotton produced in the previous season.
Source:
http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=162378
