Cotton farmers are smiling from cheek to cheek following a surprise upsurge of cotton prices from the initial K370 per kilogram to a whopping K500 per kilogram in most cases.
Cotton Council of Malawi official Cosmos Luwanda attributed the sudden upsurge of the cotton prices due to 220 new markets which he said have brought competition among cotton buyers.
“We set K370 per kilogram but the prices have been surging up unbelievably,” he said.
He however said the country has managed to produce a meagre 30000 metric tonnes of cotton this year against the demand of 250000 metric tonnes.
The cotton markets opened last month.