Home / Knowledge / News / Textiles / Cotton buying company increases purchase price
Cotton buying company increases purchase price
07
Jul '10
Sino-Zimbabwe Cotton Holdings has declared prices for cotton manufacturers, for low quality cotton, above prices declared in the government's gazette.

While cotton of grade A and B qualities will fetch the cotton producers, US $0.50 per kg, grade C quality of cotton will fetch them $0.45 per kg, and grade D will fetch $0.40 a kg, by the company.

In contrast, government had set a minimal cost of $0.50 per kg for grade A quality of cotton, but the lower grades were priced as low as $0.35 a kg.

Tanga Matema, Marketing Head, of the firm stated during a press conference that, about $140 million has been kept aside by the firm, for cotton. Therefore, the firm has more than the desired amount for purchasing cotton. The estimated figure for cotton output this year is set at around 280,000 tons.

Matema further stated that, the company intends to promote farmers, by giving them increased prices, so that they can cultivate cotton again. More so, Holdings will also purchase cotton, on the spot, as they have set up varied buying points across the nation.

Currently, many of Holdings' employees are in conversation with cotton farmers for the same. Matema also informed that, their company was currently setting up a ginnery in Harare to process cotton.

This ginnery is most likely to be the biggest in the country and almost nearing completion. Therefore, Holdings is generating employment with the help of this new ginnery. More so, this ginnery can process 72,000 tons of cotton.

Earlier, cotton buyers would pay $0.42 for the highest grade of cotton, whereas, $0.33 was given for the lower grades of cotton. Owing to such low prices, farmers would hold back their crop, in anticipation of receiving higher prices later.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
February 2017

February 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