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Domestic cotton to fetch high foreign revenue
11 Jan '08
1 min read
Cotton harvesting season is nearing and the produce this year is expected to cross 350,000 tons and when it will be sold to the international market, the raw material will earn Zimbabwe US $220 million of foreign currency.
Experts believe that because of plentiful rainfall this year, the 400,000 hectares under cultivation would surely reap a good yield.
Besides, another benefit that Zimbabwe can avail is that of rising prices of cotton in international market which will help the country to realize such a substantial amount.
The year before, Zimbabwe earned about $102 million from cotton sales. Sources inform that the major reason behind the increased production is tremendous efforts made by industry players to revive the textile sector in general and cotton in particular.
Experts believe that because of plentiful rainfall this year, the 400,000 hectares under cultivation would surely reap a good yield.
Besides, another benefit that Zimbabwe can avail is that of rising prices of cotton in international market which will help the country to realize such a substantial amount.
The year before, Zimbabwe earned about $102 million from cotton sales. Sources inform that the major reason behind the increased production is tremendous efforts made by industry players to revive the textile sector in general and cotton in particular.
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