Cotton purchases expected to rise 85 percent

COTTCO Holdings Ltd expects to buy 100 000 tonnes of cotton in the 2017-18 season, up from 54 000 tonnes in the previous year.

This follows improved farming methods and favourable weather.

Cottco has also more than doubled its registered farmers this season to 387 000  from 155 000 growers in 2016-17,                                                               according to managing director, Mr Pious Manamike.

“The dry conditions helped us as cotton is a drought-resistant crop,” Mr Manamike said in emailed responses to questions.

“We also attribute the increase to the good agronomic practices that our farmers were able to tap into.”

Cottco, which holds sub-Saharan Africa’s biggest ginning capacity, is buying a kilogramme of cotton seed at 51.8 cents and will add a grade-related price adjustment after the buying season,” Mr Manamike said.—Bloomberg