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Cameroon hikes cotton procurement price
A P Geofrey ―
Posted on Jan 1st, 2012
The Cameroon News ― In an effort to deter cotton growers from smuggling their harvested crop to neighbouring Nigeria, CameroonÂ’ state firm SODECOTTON has raised its procurement price of raw cotton from last seasonÂ’s 200 CFA francs per kg to 255 CFA francs (US$ 0.5) per kg, a rise of 27.5 percent. SODECOTTON said the move is aimed at discouraging illegal export of raw cotton to bordering Nigeria in expectation of higher returns there. It said Cameroon farmers illegally exported around 16 percent of their last[...]
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