cotton plant.jpgStakeholders in the cotton industry have welcomed the new cotton producer pricing regime that has seen a price increase of over 200%, saying the development is likely to boost the industry.

The new cotton pricing system that will see a kilogramme of cotton fetching an average of US$1 on the local market up from an average of US30 cents that prevailed last season, has been praised by farmers as a positive step that will help resuscitate the cotton industry.

The new cotton producer prices are higher compared to regional prices averaging US80 cents per kilogramme in Malawi and South Africa.tobacco queues.jpg

“Apart from boosting confidence to farmers, contractors and input producing firms, the new prices will help turn around the fortunes of the cotton industry,” said one farmer.

Over the past years, traditional western markets for cotton have been shunning local agricultural products such as cotton in direct response to sanctions.

However, the government’s Look East Policy is expected to assist in the marketing of the cotton crop as the world’s fastest growing economy, China is expected to lead the pack of buyers.