COTTCO, the country’s largest cotton financier, says it has already surpassed last year’s cotton intake by 49,27 percent with the buying season still ongoing.
Production during the 2022-23 season benefited significantly from the Presidential inputs scheme, which raised production for a number of farmers.
“We are almost at the end of the cotton marketing season of 2023, and we are happy to report that so far, our seed cotton intake is currently at 68 667 metric tonnes, which is way above what we had last year when we closed the season.
“Last year, we had 46 000 metric tonnes,” Cottco corporate communications manager Constance Makoni told The Financial Gazette in an interview.
Despite occasional production dips during drought seasons, cotton production in Zimbabwe has been steadily going up since the launch of the assistance scheme, which has helped in the resuscitation of the industry.
“Zimbabwean hand-picked cotton is in high demand and the company’s order book exceeds production volumes,”
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