Cotton remains to be the heart and hope of Burkinaâ€™s economy today. Cotton contributes 35% of GDP and about 18% of the people live from cotton growing. With the increasing value of cotton production for economic development of Burkina Faso, it is focusing more toward improving cotton production. Last year, the cotton production rose to 710,000 tonnes.
The Interprofessional Cotton Association of Burkina (AICB) seeing the improvement in cotton growth has set the raw cotton production target at 800,000 for the season 2014-2015. Apart from this, it have reduced the farm gate price for cotton growers by 10 francs per kilo, from previous years 235 francs to 225 CFA francs ($0.47) per kilo for this growing season 2014/15.
Reduction in the farm gate price was due to a fall in cotton prices on international markets which has lasted more than a year. A government subsidy of 5 percent cut in fertilizer price would be provided to reduce the cost of farming inputs.
Although an increasing number of farmers have turned to cotton in West Africa, due to lack of agricultural technology and stiff competition from subsidized growers such as in the United States ($1 = 474.5060 CFA Francs) cotton production remains wilted.
The AICB to encourage cotton grower to increase production would pay a bonus of 10 CFA francs per kg of cotton, bringing the overall return to farmers to 245 CFA francs per kilo.
Burkina Faso relies on cotton as one of its major exports. Local farmers call it their â€˜white goldâ€™.
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