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Zimbabwe to boost cotton output, attract fresh investment

04
Apr '12
Looking at attracting new investments in the domestic cotton industry, while securing the existing ones, the Zimbabwe Government would keep an eye on developments in the cotton industry.

For this it would closely monitor the implementation of the production and marketing framework in the industry, the Agriculture, Mechanisation and Irrigation Development Minister Joseph Made said and added that a consultative approach of all stakeholders could greatly help in serving the purpose.

The framework (Statutory Instrument 142 of 2009 as amended in SI 63 of 2011) aims at ensuring an orderliness, timeliness, volume consistency, fairness and reliability in farmer-ginner contracts, while focusing on presentation of the final product that vie in international markets.

Mr. Made was speaking at the Quton Seed Company's Annual Technical Field Day in Kadoma, which besides, local industry representatives, also attracted participation of delegates from regional countries like Zambia, Swaziland, Mozambique and Malawi.

The Minister said that cotton lint prices now average at US$ 1 per kg and are expected to stay around US$ 1.20 per kg for sometime during coming season, much below the US$ 2.40 per kg price offered in the 2010/11 season.

Mr. Made said that the surge in prices during 2010 was induced by scarcity of lint in global markets during 2008. However, this time, farmers would be able earn higher returns only if they can arrange to raise their yields.

The country has a cotton seed ginning capacity of 750,000 tons per annum, however, the production for the current season is estimated to come to just around 370,000 tons.

The Minister said that the Government meant to boost the cotton production to over one million tons, so as to enable ginning mills to operate at full capacity.

Fibre2fashion News Desk - India


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