According to a report published by the U.S Department of Agriculture, the current cotton market climate in Ivory Coast (Cote d’ Ivoire) as the fourth largest producer of cotton, 2019/2020 poses very prominent prospects in exports for the country.
The report stated that;
“assuming normal conditions, the country poises to solidify its status as one of Africa’s major exporters behind only Mali, Benin, and Burkina Faso,”.
The overall production projections for the 2019/2020 farming year is at 925,000 bales with exports at 875,000 bales which mark a new rise in the sector as it surpasses yields from previous years and a welcome sign of improvement. 2020/2021 even holds more promise as the projection for the yield climbs to 1million bales.
Cotton Production In Ivory Coast
Cotton has been cultivated for several decades in Côte d’Ivoire and in the past 10 years, the total land used in the cultivation of cotton has more than doubled from 185,000 to 400,000 hectares, hence, making Ivory Coast the 3rd largest producer of cotton in Africa after Burkina Faso and Mali.
Agriculture is the economic mainstay of Ivory Coast and it has proved even more favourable for farmers since the reforms put in place by the government after the near meltdown in the year 2000.
The economy has attained the position of the largest in the West African Economic and Monetary Union (ECOWAS), culminating to a total of 40% of the monetary union’s total GDP.
The country, well placed in the South African Coast, has grown faster than most other African countries since her independence with one possible reason being the tax garnered from exports.
Companies that have helped farmers in the production of cotton are Olam, Cargill, and Angrocorp. Bangladesh is the largest importer of cotton from Ivory Coast.
The Sub-Saharan African country is also popularly known as the largest producer of cocoa beans and the fourth largest exporter of goods in Africa (following South Africa, Nigeria, and Angola).