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Zimbabwean farmers urged to sell cotton at current prices
20
Jun '11
Cotton cultivators in Zimbabwe have been asked to sell their produce at current price levels, by the Zimbabwe Commercial Farmers Union (ZCFU).

The ZCFU has given this call after a drop in cotton prices from US$ 0.85 cents per kg to US$ 0.75 cents per kg, due to a sharp fall in international lint prices last month from US$ 2.37 per pound to US$ 1.64 per pound.

Several cotton growers in Zimbabwe have held back their produce in expectation of earning higher returns, but they have not met the desired results as the prices have started declining.

Experts are now advising cotton cultivators to sell their produce rather than holding back the same, as prices are likely to fall further. They say that if the prices continue to decline, cotton farmers who are holding the crop may make losses.

It was after several meetings and consultations that the ginners, farmers unions, merchants and officials of the Agricultural Marketing Authority arrived at a consensus on the price to be paid for the crop. The new lower price would still allow the cultivators to reap profits, said ZCFU.

The experts, however, add though the farmers are still on the safer side even after the lowered price, they should keep an eye on the market trends.

The cotton cultivators, however, allege that the buyers are pretty fast at reacting to fall in the international prices and swiftly reduce the prices for procuring from domestic producers, but they do not act at the same pace when the international prices rise.

Farmers also allege that they are apprised of the global conditions only when the prices drop.

ZCFU, meanwhile, has stated that the present trend of declining prices in the international market cannot be permanent. The fluctuations in prices occur due to demand-supply law and the situations always keep on changing. It has also asked merchants to not to cash in on the present situation and lower the prices further.

Fibre2fashion News Desk - India

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