OVER 16 000 metric tonnes (mt) of cotton seed have been delivered to Cottco so far, as the marketing season for the white gold takes shape following the government’s resolution to pay farmers for last year’s produce.
The State-controlled Cottco had been struggling to pay farmers $1,5 billion for the 2020 cropping season, leaving the sector in disarray.
The payment impasse had demoralised farmers from delivering the crop this marketing season, fomenting fertile grounds for side marketing for the crop.
“…the 2021 cotton marketing season commenced on 18 May 2021 with a producer price of ZW$85/kg for seed cotton delivered to Cottco. A price subsidy will be availed to Cottco only, for the Presidential Input Scheme, with part of the payment being in foreign currency at a rate of USD10 per bale,” Information and Publicity minister Monica Mutsvangwa told reporters this week.
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.