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African Cotton Markets at Crossroads : Will the Price Spike Turn into a New Kick-Start?

ADVERSE EFFECTS AGRICULTURAL SUBSIDIES AGRICULTURE BASE YEAR BIDDING CERTAIN EXTENT COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES COMPARATIVE ANALYSIS COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CONTRACT ENFORCEMENT COTTON PRICES DATA AVAILABILITY DEMAND GROWTH DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ASSISTANCE DEVELOPMENT POLICY DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES ECONOMETRICS ECONOMICS RESEARCH EFFICIENT REGULATION ELASTICITY OF SUPPLY EMERGING ECONOMIES EXCHANGE RATE EXPORTS FINANCIAL INSTITUTIONS FINANCIAL SUPPORT FIXED PRICES FOOD POLICIES FOREIGN CURRENCY GLOBAL EXPORT GLOBAL MARKET GLOBAL OUTPUT GLOBALIZATION GOVERNMENT INTERVENTION INCOME INCOMES INTELLECTUAL PROPERTY INTERNATIONAL TRADE LDCS LIBERALIZATIONS LOCAL CURRENCIES MARKET CONDITIONS MARKET ENTRY MARKET FORCES MARKET POWER MARKET PRICES MARKET REFORMS MARKET REGULATION MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKETING MERCHANDISE MONOPOLIES MONOPOLY NEW MARKET NEW MARKET OPPORTUNITIES OUTPUT POLITICAL ECONOMY POVERTY ALLEVIATION PRICE CHANGES PRICE COMPETITION PRICE FLUCTUATIONS PRICE INCENTIVES PRICE INCREASE PRICE PROSPECTS PRICE SETTING PRICING SCHEMES PRIVATE CAPITAL PRIVATE INVESTORS PRIVATIZATIONS PRODUCER PRICE PRODUCER PRICES PRODUCERS PRODUCTION COSTS RAPID GROWTH SALE SALES SETTLEMENT SYSTEM STOCKS SUPPLY ELASTICITY SUSTAINABLE DEVELOPMENT TAX TAXATION TECHNICAL ASSISTANCE TERMS OF TRADE TRADE NEGOTIATIONS TRADE POLICIES TRADE POLICY TRANSPARENCY WORLD MARKET WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO
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Africa | Africa | Africa
2012-03-19T18:05:35Z | 2012-03-19T18:05:35Z | 2011-10-01

After years of diplomatic efforts and legal procedures to obtain the elimination of rich countries' cotton subsidies, policy prospects for African cotton producers remain bleak. However, the world price for cotton has doubled in a year and has hit an all-time high. This paper examines these developments and investigates their potential consequences for African smallholder farmers. It emphasizes the importance of price transmission to domestic markets; assesses the impact of the reforms undertaken in Sub-Saharan African cotton sectors on producers' supply responsiveness; and outlines what remains to be done to ensure that farmers can benefit from a favorable global environment. The paper concludes that improving the functioning of domestic markets remains the priority in the short run. The current high price season will reveal the costs and benefits of different types of sector regulation systems and the capacity of policy-makers and sector stakeholders to deliver on promises. It also offers a last-minute opportunity to rich countries to keep their word in the context of the Doha Development Round.

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