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Cotton industry awaits a better trade prospective
17
Mar '08
If international cotton supplies have remained sufficient for the past so many decades, contributions made by Zambia should not be marginalized. For innumerable years, the country has remained consistent in supplying cotton to the world market through its exports.

So vibrant has been this industry that farmers and the weaving sector of the country virtually thrive because of the cotton grown locally. Despite enormous contributions made to the economy of Zambia, cotton industry has ceaselessly tried to overcome many obstacles, but in vain.

International prices of cotton kept plunging, leaving hundreds of cotton growers in a state of distress. So complicated is the global market scenario that for exporters from Third World Countries, the proposition to enter international arena sounds very unattractive.

Although, reputed cotton buying companies spend a considerable sum of money by way of loans to support cotton farmers, a large number of small buyers refrain from investing in the crop.

This can only lead to a further decline in the overall production of cotton which will in turn affect the competitiveness of Zambia on an international level.

Government has been urged to implement proper laws that would go in support of the cotton industry enabling it to flourish and expand.


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