The government has set the cotton producer price for the current marketing season, The Herald reports. Farmers will earn $43.94 per kilogram of cotton. This was revealed by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa during a post-cabinet media briefing. Mutsvangwa said:
Cabinet considered and approved a cotton floor producer price of Z$43.94/kg for the 2020-2021 cotton marketing season, which gives the farmer a 15 percent return and ensures viability and competitiveness of the cotton industry
According to the publication, Mutsvangwa said the government will pay for the cotton on the following terms:
The $43.94/kg producer price would be paid out in three sums: US$10 for each bale of cotton delivered, 38 percent of the value of a 200kg bale in cash and the balance transferred electronically to farmers’ mobile money wallets.
More: The Herald