“Overall, the results at the national level were disappointing,” NSCT’s deputy director Martin Drebon said at a recent press conference. He said the sharp decline in the pandemic process was due to a combination of falling prices, poor seed quality and bad weather, the national newspaper reported.
Meanwhile, Olam International, the majority stakeholder of NSCT, plans to invest 4.6 billion CFA in the 2021-2022 cotton campaign. Production this season is 135,000 tonnes.
Part of the funding will be spent on industrial infrastructure, technical equipment and management software, including NSCT’s integrated management software package SAP, which helps manage the farmer’s environment. CFA25bn is used for factory refurbishment and purchase of spare parts.
In the new campaign, NSCT has decided to use a weather warning system to avoid rain problems that occurred in the previous season. Togo’s total cotton production in 2019 was 117,000 tonnes.
According to data from the Observatory of Economic Complexity, Togo’s export revenues come primarily from oil, but cotton accounted for about 5.8% of total exports in 2019.
In parallel, NSCT will need to pre-finance the new cotton season, inject 9 billion CFA into the purchase of inputs and prepay key producers. The company said the funds would be collected at the end of the campaign.
Fiber2Fashion News Desk (DS)
According to Togo’s New Cotton Company, the country’s largest producer of cotton, Togo’s cotton production is expected to return to pre-pandemic levels next season after declining 43% last year due to bad weather and falling prices. I will. In 2020, the country’s cotton production was 66,000 tonnes, down 43% from the previous season.
Togo hopes that cotton production will recover after a 43% decline in 2020.
Source link Togo hopes that cotton production will recover after a 43% decline in 2020.