ABIDJAN – Mr Karim Traore, the President, Burkina Faso Cotton Growers Association (AICB) has urged cotton farmers in the country to be resilient in the face of imminent price fall in the 2014.
In a statement obtained by the News Agency of Nigeria (NAN) in Abidjan on Monday, Traore encouraged the farmers to increase their yields in preparation for another season.
He said that the cost of farm inputs in the country would be lower following government subsidies and reduced interest on bank loans.
“The looming price fall should not discourage farmers because the cost of farm inputs will be lower due to government subsidies and lower interests in bank loans,’’ the statement said.
Reports say that the AICB had in April announced looming fall in the price of cotton during the 2014 to 2015 season.
According to the association, cotton price will drop from 245 CFA per kilogrammes to 225 CFA during the season.
It said the 2014 to 2015 cotton season will start at a time when the cotton’s international market prices are still falling.
Meanwhile, Burkina Faso targets to produce about 800,000 tonnes of cotton in the coming season.
The country currently ranks first in cotton production in Africa having produced 750,000 tonnes in 2013 and earning 95 billion CFA in return.
Reports show that cotton currently employs 17 per cent of the population and accounts for between five and eight per cent of the GDP as well as 60 per cent of its export earnings. (NAN)