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Cotton Farmers in the country have been hit hard following the drop in the commodity prices from K15 last year to K6 per kilogramme (Kg) this year.
Cotton prices last season were pegged at K15.00 per kilogramme (kg) but this season, ginners are offering ‘low prices’, at K6 per kg.
Cotton Association of Zambia (CAZ) Exective Director, John Ngwenyama, says the dramatic fall of prices of cotton will cause serious pain in the sector.
Ngwenyama explains that despite a general fall in prices of cotton on the international market, the Zambian situation needs attention.
He stated that following the international market pricing system this year’s cotton prices were supposed to be between 9.5 to 10.5 kwacha.
Ngwenya said in Malawi cotton is fetching around 580 Malawian Kwacha, which translates to K9.8 Zambian Kwacha.
He wondered how different the scenario is in Malawi to Zambia, as the two neighbouring countries share similar economic hardships.
“It is sad that the cotton industry has continued to underperform over the years due to extremely poor prices. Ginners have continued to ride on the farmers’ sweat by swindling them out of their produce through the offer of non-cost reflective prices, which will inject more poverty in the farmers,” Ngwenyama observed.
He said the cotton futures’ market was bright, hence the need for buyers to offer good prices as opposed to taking advantage of farmers.
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