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Record global prices to help increase cotton output
18
Oct '10
A textile expert recently stated that, it is very much possible that cotton cultivators in Zambia may once again be able to reap high prices for their produce with commodity prices touching record highs in global markets.

World cotton prices touched the highest point at US $115.60 per pound on the Cotlook A Index on September 29, 2010, which was 80 percent above the price recorded on the same day a year earlier, and also the highest price recorded since May 23, 1995.

While speaking on the development and its relevance for Zambian cotton industry, the expert said that, there was no cent percent assurance that the prices would continue to persist at high levels, as there are other factors like changes in the exchange rate, which may influence the prices.

However, the expert stated that the surge in commodity prices seemed to be very much positive for cotton cultivators and optimistically may lead to increased cultivation of the crop and higher output.

This as such, would lead to a very much sought after rise in the flow of cotton from ginneries in the country which over the past few years have remained highly underutilized, he said.

The rise in prices is also seen to appeal to some of the commercial cultivators who may resume with cotton cultivation, after having shifted to other crops. Higher prices for the crop, is sure to boost the crop production next year and in times to come.

For last few years there has been a constant fall in the country's cotton production which was recorded at just 71,000 metric tonnes during last season, as over 106,000 metric tonnes a year before and country's record high of 198,000 metric tonnes in 2005, he said,

Whereas the fall in the volumes have added to the miseries of the ginners, it has also lead to a fall in the export earnings of the nation.

Fibre2fashion News Desk - India


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