Production forecasts for cotton and soybean seed in Cameroon are estimated at 260,000 and 16,000 tonnes for the marketing year 2014/2015, against 249,000 and 16,900 tonnes respectively in the previous season, according to figures released Thursday by the Director General of the SODECOTON, Abdou Namba.
Specifically on cotton, the company had a few months ago, focussed on a production of 240,000 tonnes for this year against 210,000 tonnes in 2013. At the same time, SODECOTON recorded a net result accountant 3,583 billion FCFA for 2013, against net profit of 5,681 billion CFA FRANCS a year earlier and 5,385 billion CFA FRANCS in 2011.
Early this year, the company benefited from a loan syndicated 35.5 billion FCFA from 5 local banks for its development.
SODECOTON, despite the implementation of strategies for recovery of the sectors for which it is responsible, underwent full whip in heavy financial losses caused by the massive and fraudulent cotton sale in neighbouring Nigeria by producers.
