Zimbabwe is improving the cotton purchase price mechanism
According to a report by the Herald on June 28, the Zimbabwean government is improving the purchase price mechanism for different grades of cotton before the cotton sales season. The government recommends a sales price of A-grade cotton of 55 cents, of which 40 cents is the base price and 15 cents is the subsidy. It is expected that 60% of the cotton will be grade A cotton.
The Zimbabwean government expects cotton production to reach 120,000 tons this year, 35,000 tons in 2016, 118,000 tons in 2015, and 143,000 tons in 2014. Most farmers have given up growing cotton in the past few seasons due to the bad prices that merchants are paying for cotton, which was previously as low as 30 cents per kilogram. The government plans to double the cotton planting area next season to 300,000 hectares. Zimbabwe is improving the cotton purchase price mechanism
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