Cottco opens registration under Input Credit Scheme

18 Aug '12

2 min read

The Cotton Company of Zimbabwe (Cottco) has opened registration for cotton growers under the input credit scheme. However, it would renew contracts of only those farmers who participated in the scheme during the last season.

The company has announced that registration for 2012-13 input credit scheme has started at all its business units nationwide, and would go on till September 20, 2012.

During last season, which was paralyzed by large-scale differences between farmers and traders over cotton producer price, Cottco extended financial support to 135,000 cotton growers under the scheme.

It is expected from the farmers willing to qualify for the 2012-13 scheme to have cleared their dues for the current season, Cottoco said.

Before disbursing inputs under the scheme, Cottco would be measuring the fields so as to slim down the possibilities of farmers adding their fellow grower’s inputs to their own inputs.

Regretting that it would not be able to register new farmers for the upcoming season, the company has requested the existing beneficiaries to register at the earliest, so that they can disburse the inputs in time.

By and large, Zimbabwe continues to be a cotton exporter, as over 80 percent of the high quality cotton lint produced in the country is exported in its raw form without any value addition.

Next to Israel, Zimbabwe produces world’s second best quality cotton, but still it needs to track global prices, as being impacted by factors like capital shortage and competition, its value addition industries continue to contract.

Fibre2fashion News Desk - India

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