Cotton market opens, minimum price set at K580/kg
Cotton farmers are expected to smile all the way to the bank as the cotton market has opened with a minimum price set at K580)kg.
The Cotton Council of Malawi (CCM) executive director Cosmas Luwanda announced this at a press briefing in Lilongwe.
He said the minimum price has been set with consideration of the cost of production and the prevailing international cotton prices.
“But if you compare the minimum price for this year you will see that there is an improvement from K400/kg last year so farmers are going to make much more money this year,” said Luwanda.
He said over 100 markets have been opened across the country, so that farmers can access markets easily to cut on transport costs.
Luwanda also said the council will be deploying market inspectors to ensure that there are no irregularities throughout.Follow and Subscribe Nyasa TV :