Home / Knowledge / News / Textiles / Low international prices impact Zambian cotton sector
Low international prices impact Zambian cotton sector
25
Jun '12
Cotton prices in Zambia have been impacted by low prices in the world market, and the same is restraining the ginners from paying higher prices to cotton farmers, the Zambia Cotton Ginners Association (ZCGA) has said.
 
World cotton lint prices have been falling since last year, causing the domestic industry to suffer the impact, it added.
 
ZCGA Executive Secretary Bourne Chooka said the current season failed to bring any optimism for the cotton industry and everyone is blaming the drop in world prices for the same.
 
The average of cotton price from 1912 to 2012 came to US$ 0.565/lb, with commodity prices touching a historic high in March 2011. 
 
However, there has been a sharp 69.6 percent fall in cotton prices from the record high levels in March, Mr. Chooka said. 
 
Presently, the global lint price prevails at around US$ 0.72/lb, compared to US$ 1.50/lb price that prevailed during the corresponding period of last year.
 
Stating that they have all been badly hit by the global slump in cotton prices, the ZCGA official said while farmers badly need money, the ginners also need cotton.
 
However, he said they are not ready to pay prices that are much higher than the global lint prices, which necessitates a reduction in the prices paid to producers all across the world, and Zambia is no exception.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search