Zimbabwe has witnessed a bumper cotton production of around 316,000 tons till last week, surpassing previous estimates by the authorities.
Mr. Ngoni Masoka, Permanent Secretary, Ministry of Agriculture, Mechanization and Irrigation Development of the Government of Zimbabwe, said the country’s cotton productivity has exceeded the initial estimated target of 286,000 tonnes, projected by the 2012 national budget, despite the prices impasse.
Earlier this year, cotton growers of the country held on to their crops to protest against the approximately US$ 30 per kg price offered by the merchants, which, according to the farmers was too little as compared to the cost involved in producing the crop.
The row was resolved after the Government intervened and fixed the minimum price for procuring cotton at US$ 77 per kg.
Mr. Masoka said the Government was striving for establishing a special kind of a fund from where the farmers can seek affordable capital. This proposed policy would also coerce banks to frame a policy for lending capital to the cotton farming sector, he added.
Fibre2fashion News Desk - India