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Farmers demand cotton increase in support price
26 Apr '06
1 min read
Cotton farmers are demanding higher support price of ZWD $60,000, up from the present ZWD $5,000 per kilogram being offered, which is about three times than what is offered by merchants currently.
The introduction of this price will make farmers realise 25 percent profit.
Proposal to raise support price has been put up to Government and Reserve Bank of Zimbabwe (RBZ) through National Cotton Council.
The money being offered at present was too little and insufficient to repay their loans.
Proposal from farmers had been received and discussions were in progress, said Dr Joseph Made, Agriculture Minister.
Deliveries of white gold have been disappointing, said industry players.
Actual figures could not be confirmed but it is said farmers were holding on to their crop anticipating higher prices.
It is projected that 350,000 tons would be offered for sale this season, up from about 200,000 tons last year, earning about US $140 million in exports for country.
The introduction of this price will make farmers realise 25 percent profit.
Proposal to raise support price has been put up to Government and Reserve Bank of Zimbabwe (RBZ) through National Cotton Council.
The money being offered at present was too little and insufficient to repay their loans.
Proposal from farmers had been received and discussions were in progress, said Dr Joseph Made, Agriculture Minister.
Deliveries of white gold have been disappointing, said industry players.
Actual figures could not be confirmed but it is said farmers were holding on to their crop anticipating higher prices.
It is projected that 350,000 tons would be offered for sale this season, up from about 200,000 tons last year, earning about US $140 million in exports for country.
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