Cotton season closes,generates K8 billion

 The cotton market has closed in most of the outlets, generating K8 billion with clearance sales expected to continue in Salima.

Cotton Council of Malawi spokesperson Prisca Jamali in an interview said eight million kilogrammes (kg) or 8 000 metric tonnes (MT)of the lint has been sold so far with most markets now closed.

She said: “Since May, the season has been progressing well. The minimum price rose from K900 per kg to K1 150 per kg during the season.

“Officially, the market is expected to close by August 12 since it runs for 90 days. In Salima, the market is still open, but most of the markets in Balaka and Chikwawa have closed.”

Meanwhile, Cotton Farmers Association of Malawi president Labson Zidana has expressed satisfaction with the season, which saw prices rising by 27 percent.

He said: “The season has closed in Balaka, Mangochi and the Shire Valley and farmers are happy.

“There is a feeling that in the forthcoming season, more farmers will be enticed to grow cotton and I strongly believe this will be the case if the council and buyers will ensure seeds are available on time.”

One of the four cotton buying firms, Malawi Cotton Company, confirmed having closed its outlets in Salima, Balaka and the Shire Valley.

However, in an interview yesterday, the company’s field manager Yohane Jim said they were only able to buy 1 250MT only (about 1.2 million kg) due to low production.

“We hope next year production levels will improve so that we can sustain our operations,” he said.

In a related development, farmers will be able to source seed locally which was multiplied by Masapa Cotton Company.

Masapa director Oswald Lutepo confirmed that his firm invested in a seed multiplication plant in Salima after observing that the main factor behind the country’s collapse of the country’s cotton industry is lack of affordable and improved seed varieties.

This year, the country is expected to produce about 10 000MT, which is one of the lowest outputs in recent year as the country has potential to produce 100 000MT.

Last year, cotton prices rose by 24 percent to K720 per kg from the minimum price of K580 per kg