Cotton farmers target over US$0,50 per kg

cottonSunday Mail Reporter
Cotton growers are expecting a market price of over US$0,50 per kilogramme for cotton seed as price discussions are set to kick off this Thursday.Zimbabwe Commercial Farmers’ Union (ZCFU) president Mr Wonder Chabikwa said despite the fact that the crop was not yet ready for harvest, price discussions should start as soon as possible for planning purposes.

“Price discussions will start this week and as farmers we are expecting a minimum of $0,50 per kg although we need to consider international prices,” said Mr Chabikwa.

“Cotton is a long season crop and harvesting has not yet started, but price discussions should start early for planning purposes.”

According to the first crop assessment report, cotton production has gone down by 16 percent while last year it had dropped to 48 percent due to poor prices that have characterised the market.

Zimbabwe Farmers’ Union (ZFU) second vice-president Mr Berean Mukwende said indications from the international market were that prices would kick start at the same prices of last year’s market.

“Currently the international market prices are standing between US$0,80 and US$0,90 per pound of cotton lint, prices which we closed with the previous marketing season,” said Mr Mukwende.

“We are expecting local prices to be around US$0,60 per kg or above for cotton seed, since some merchants were even offering higher prices.”

Last year cotton prices were very low during the opening of the season but, however, prices firmed as they were pushed by demand and supply factors since there were low volumes.

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