A delegation from Sofitex Ltd, the Bulgarian company informed the cotton growers of Burkina Faso that the rate for their cotton will be about US 30 cents per kilo, 9 percent less than last year's cotton rate.
The price of cotton has fallen every year since 2003. The industry, which counts for 60 percent of Burkina Faso's cash exports, provides employment to its people.
With more farmers giving up cotton, Burkina Faso's production is likely to drop next year by more than 12 percent to less 700,000 tons. Currently 95 percent of the cotton is exported as raw material.
But as the WTO ended world quotas on textile in 2005, the export of Burkina Faso may face a set back.
The West African Development Bank (BOAD) has been supporting efforts to increase the manufacture of local textiles.
Burkina Faso's government research institute INERA (l'institut National de l'environnement et de recherches agricoles) has produced genetically modified cotton seeds which can yield up to 3,000 kg of cotton per hectare from the current average of only 1000 to 1500 kg. The government plans to distribute the seeds to farmers in 2007.
Fibre2fashion News Desk - India
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