The season for harvesting and procurement of raw cotton is about to begin in the Nampula province in Mozambique.
Beginning mid-July, all the cotton firms that are operating in the region are likely to purchase raw cotton worth MZM 25 million, i.e. approximately US$ 868,000.
This season, the price for the purchase of first and second grade raw cotton will be between MZM 11.5 and MZM 15 (US$ 0.40 and 0.52).
Cotton companies in the Nampula region have already reserved enough funds to buy the cotton.
The farmers have prioritized to cultivate cotton over other cash and food crops this year due to the Government's announcement of a record high minimum cotton procurement price.
Also, climatic conditions for the growth of cotton have been favourable this year. Hence, at the least, a harvest of 24,000 tons of cotton is expected in the province.
Fibre2fashion News Desk - India
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