On January 23, 2009, the Togolese Council of Ministers decided to dissolve the Togo Cotton Company (SOTOCO) and establish the New Togo Cotton Company (NSCT). The new company will take the form of a joint venture, with 40% of the shares transferred to the Togolese Cotton Producers Association (FNGPC) to mobilize the enthusiasm of cotton growers.
Togo Cotton Company (SOTOCO) is a wholly state-owned company established on March 24, 1974. It is affiliated to the Ministry of Agriculture and the Ministry of Finance and is responsible for the development of the national cotton industry. In 1978, Togo’s cotton output was only 4,516 tons, in 1994 it exceeded 131,000 tons, and in 2003 it reached a record high of 186,000 tons. Later, due to factors such as climate drought and the government’s arrears to cotton farmers, which affected farmers’ enthusiasm for planting cotton, Togo’s cotton output dropped sharply year by year. In the past three years, the output was 39,000 tons, 50,000 tons, and 42,000 tons respectively.
