The country hosting Africa's largest producer of cotton will see growers and government officials convene to discuss ongoing business and labor issues, according to a labor union for the industry.
Bloomberg reports officials of Burkina Faso and growers of the soft fiber in the nation's western region already have had some discussions. Karim Traore, leader of the National Cotton Producers Union of Burkina Faso, conducted talks with Laurent Sedogo, agriculture minister, late last week. Among the issues under discussion are doubling the price of the minimum wages paid to growers and changes at Sofitex, the cotton company that is under state control. They also are discussing reimbursement for supplies.
"Our members asked us to negotiate with the government to obtain a subsidy for fertilizers, which are the most expensive in western Africa, or an increase in the cost price" of the soft fiber, Karim Traore, president of the National Cotton Producers Union of Burkina Faso, told reporters on Friday in the capital city of Ouagadougou.
At 11:53 a.m. on Monday, cotton futures slipped 1.94 percent, a .0307 cent drop to $1.5495 per pound.
The union leader said the discussions will advance.
"The minister promised to send our demands to his superiors for discussion and we are confident that they will find a solution," the union leader said.
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