Sodecoton envisages 7% boost in production in 2014-15

The Cameroon cotton development company (Sodecoton) has disclosed its intention to increase its production to 7% as a result of not reaching its target during 2014-2015 marketing year campaign.

The company which is located at the Northern part of Cameroon considered producing 235 000 tonnes of cotton instead of the 240,000 tonnes expected.

This slight increase in production was due to when the product encountered some difficulties in the international market at a point in time and indeed, world cotton prices have fallen 30% since August 2013.

These difficulties were also related to the drastic drop in exports to China, a country which currently controls 60% of the world market for cotton and has accumulated 11 million tonnes of cotton in reserve.

Analysts also predicted a discount sale of cotton or a slump in sales of the product which reflected in the significant losses of the cotton development company (Sodecoton).