adminThe initiative will eliminate risks associated with moving around with large amounts of cash.
The cotton buying season normally commences in April or May each year after the producer price negotiations are finalised. This year, the buying season started on May 20.
Cottco marketing and public relations manager Ms Veronica Kadandara told New Ziana that the company valued the welfare of farmers and wanted to provide alternative safer methods of payment.
“At selected buying points the farmer has the option to receive payment in the form of cash or an EcoCash transfer.
“For the farmer who opts for EcoCash, the funds will be transferred to his or her wallet,” Ms Kadandara said.
“The farmer can cash out at a Cottco EcoCash agent for free if it is done within 24 hours of receiving his payment. Thereafter, the farmer will be subject to the normal EcoCash charges.”
Ms Kadandara said Cottco agents would be registering farmers who wished to use the facility. “It is a more secure form of payment as the farmers will not carry cash at the risk of robbery as they travel back to their homes from the buying point.
“It also encourages the farmers to save as naturally cash has a temptation to spend,” she said.
She said the arrangement would be in place in the coming seasons depending on the response of farmers.
“This season is being used to assess the farmers’ appetite for EcoCash. We will continue using it in the coming seasons as long as there is an appetite among the farmers,” Ms Kadandara said.
Ms Kadandara said closure of the marketing season depended on a number of factors such as, the date when farmers started delivering their seed cotton, the national crop size and the level of competition during a particular season.
“All things being equal the marketing season normally ends at the end of July,” Ms Kadandara said.
The minimum price of cotton for the 2013 marketing season is pegged at 35 cents per kilogramme. — New Ziana.
Online Reporter