Cotton prices increased by 200% in Zimbabwe as global inflation continues to take toll

ZIMBABWE'S struggling cotton farmers are smiling all the way to their commercial banks after the Minister of Agriculture, Dr Joseph Made (pictured), gave them a 200 percent hike for their "white gold".

Cotton prices have been increased from the paltry US$0,30 per kilogramme to US$1, a more than 200 percent hike for the cash-strapped farmers who had regularly complained to the minister.

In the region, cotton farmers are paid between US$0,80 and US$0,90 which makes local cotton farmers the best paid.

"In Malawi, for example, cotton farmers are currently getting US$0,80 while in South Africa they get US$0,90 per kilogramme," an official from the Cotton Marketing Board (CMB) said in an exclusive interview.

Farmers interviewed said they welcomed the price hike which would go a long way in solving their production costs which were escalating annually.

"We pay a lot of money for such items as fertiliser and inputs," a communal farmer said in an interview.

"So, this US$1 will go a long way in trying to solve our cash problems. The money is very welcome but it has come a bit late."

The official from the cotton organisation said now that the price had been increased he hoped production would go up from the current 20 percent especially from communal farmers. (read more)