Nigeria Government May Revoke Cotton Export Subsidies

2010/10/19 11:35:00 40

Nigeria

In a recent meeting with the management of the joint Nigeria textile Limited by Share Ltd, vice president Mohamed Na mat sanbo recently announced that the federal government had inspected the prospect of ending the export expansion grant, which could be enjoyed by export ginning.

Sambo stressed that it is necessary to convene a meeting of Governors of 19 northern states to plan cotton planting in the coming season, so that we can plan sensitive campaigns and encourage the expansion of next farming.

Season

Emphasis is placed on production.

Sambo said once again that they believe that the export expansion subsidy will be temporarily suspended from November this year, which will be suspended for one year, so as to meet local consumer demand and ensure adequate domestic industry.

lint

To carry out their production behavior.

Supplement:

In the weekly crop growth report released by the US Department of agriculture (USDA), cotton harvest rate was 41% in the week ending October 17th, compared with 33% in the previous week, 15% in the same period last year, and 30% in five years.

As of October 17th, cotton Bolling rate was 95%, which was 92% last week, 85% in the same period last year, and 88% in five years.

As of October 17th, the excellent and good rate of cotton growth in the United States was 55%, 55% last week, compared to 44% last year.