Cameroon’s cotton farmers quit farming of cotton
Global recession reduced consumer spending, reduced the demand for cotton, which led to Cameroon’s cotton farmers quit farming cotton, Cameroon’s cotton growers and the official said.
They tore up buyers with the Cameroon national cotton company, signed a procurement contract, leading to lack of funds, Cameroon’s heavy reliance on the lives of cotton farmers of cotton revenues. As the international financial crisis, some customers Cameroon bankruptcy prediction in the 2008-09 cotton season in the West and Central African country of purchase orders issued will be cut back sharply, while bad weather and high fertilizer costs lead farmers to abandon cotton.
Cotton farmers in Africa, the U.S. government to provide subsidies to its cotton farmers disappointed. International Cotton Advisory Committee said that the market distortions of the African cotton farmers an additional burden.