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Government may intervene into cotton price issue

25
Jun '10
The government of Zimbabwe may intervene into the continued conflict, over cotton prices, between cotton farmers and merchants, and fix minimum prices of cotton, amidst talks that, the matter has been referred to the Cabinet.

Cotton merchants fixed cotton price at 30 cents per kg, which was very low and not worth according to the farmers, who threatened to hold back their cotton in case of no price hike.

As farmers and merchants couldn't decide right prices for cotton, it was recommended that, the matter be presented to the Cabinet. The Cabinet Committee on Cotton held a meeting to discuss the issue.

The committee agreed that, the government has to intervene into the matter, informed Welshman Ncube, the Industry and Commerce Minister. Deciding cotton prices has become a perennial problem, and it is coupled with the economic instability of last ten years.

Such issues have led to continues plunge in cotton production. Mentioning the decrease in cotton prices in the international market, cotton merchants have denied fixing higher prices for cotton as per farmers' demands.

Cotton prices in the international market are just US 23 cents, which would remain as it is if the demand from China goes up.

Fibre2Fashion News Desk - India


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