ZIMBABWE’S cotton selling season has begun and Cottco Ltd, which is the sole authorised buyer, has set aside $44 million to buy the crop.
This year, Zimbabwe is expected to produce 110 000 kg after a record low output of 30 000 kg last year.
Cottco managing director Mr Pius Manamike said the company had set aside $44 million to buy cotton during the selling season which opened on May 22.
“We are expecting more than 110 000 tonnes of cotton. We have set aside $44 million to buy the cotton,” he said.
Mr Manamike said Cottco would pay 55 cents per kilogramme for the top grade of cotton and 40 cents for the lowest Grade D crop.
public.co.zw is Zimbabwe online notice board, we look all over the internet for zimbabwe latest news and interesting information that affects our everyday life and pin them here.An Elitepages Project