Preparations for this year’s cotton marketing season set for next week Monday the 22nd of May are well on course with the Cotton Company of Zimbabwe (Cottco) assuring farmers that funds are ready for disbursement.
There has been an increase in the selling price this year with the seed cotton set to fetch a minimum price of 40 US cents per kg up from average of 35 US cents per kg last season.
According to Cottco, farmers will receive their earnings 85 percent USD and 15 percent ZWL equivalent as announced by Government.
The payments are strictly cash and via mobile money.
“Payments will start on the 22nd of May 2023 when the cotton marketing season officially begins,” said Cottco.
Cotton farmers have already started delivery of their produce to various Cottco depots with almost 10 000 bales already stocked at the Nembudziya depot ahead of the start of the marketing season.
Cottco has already initiated advance payments to some farmers that have already delivered cotton.
A total of 360 224 farmers with approximately 295 175 hectares have been contracted this year, compared to 201 821 hectares established at the same time in the 2021/22 season.
Government introduced several farmer support programmes such as the Presidential Input Scheme and Pfumvudza/Intwasa through which farmers are given seed, fertilisers and chemicals for free, to boost production.