CMR's cotton product'n projected at 235,000 tonnes in 2014/15

Cotton Development Corporation (Sodecoton) should produce 235,000 tonnes of cotton during the 2014-2015 season, an increase of 7% compared to the previous season, which did not reach 240,000 tonnes as expected, revealed Commodafrica.

Although very slight, this increase in cotton production in Cameroon wwas announced in a difficult international market, characterized not only by the decline in world cotton prices, which have lost 30% of their value since August 2013; but also by the drastic reduction in imports from China, which controls 60% of the world cotton market and currently accumulates 11 million tonnes of cotton in reserve.

Analysts say the combination of the two above parameters should lead if not a fire sale of cotton, at least in poor sales of the product, a situation that would cause major losses to cotton companies such as Sodecoton.