Bloomberg News

Zimbabwe State to Be Nation’s Sole Cotton Buyer, Chronicle Says

May 30, 2012

Zimbabwe’s government will be the sole buyer of cotton from farmers this year after growers protested the price offered by merchants, the state-controlled Chronicle reported, citing Agriculture Minister Joseph Made.

The agriculture department and the indigenization ministry will allocate funds to buy the cotton, Made told the Bulawayo- based Chronicle. The ministries haven’t yet set a price for the crop, the newspaper reported.

Cotton merchants were offering between $0.35 and $0.50 a kilogram (2.2 pounds), while farmers were demanding $0.85 to $1.20, the Chronicle said. Merchant prices were comparable with prices in the southern African region, the newspaper said.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus