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Zimbabwe Govt may buy cotton directly from farmers
29
May '12
The Zimbabwean government might intervene and buy cotton directly from the farmers, if the current impasse between cotton farmers and merchants is unresolved.

This was announced by Joseph Made – Agriculture Minister, who has been advised by the cabinet to intervene in the issue.

The Cabinet has advised me to mobilise resources to buy cotton from the farmers and sell it later in global markets, when prices move up, he said.

“We will have to reactivate the Cotton Marketing Board (CMB), which will purchase cotton on behalf of the government”, he added.

The bone of contention is the wide difference in prices offered by the merchants and the prices demanded by the cotton farmers.

Cotton merchants are offering between 36 and 50 US cents per kg, while farmers are demanding between 85 and 120 cents per kg.

Fibre2fashion News Desk - India

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