Cyclone Feddy delays local cotton market
The Cotton Council of Malawi (CCM) has said the onset of this year’s cotton market may be delayed due to the impact of Cyclone Freddy.
This comes as stakeholders are yet to agree on the minimum price for the crop.
In an interview on Wednesday, CCM Chief Executive Officer Cosmass Luwanda said the council awaits a situation assessment report to determine impact.
“We have been delayed somehow because access to some of the affected areas has been a problem,” Luwanda said.
Cotton Farmers Association President Lapson Zidana said farmers are waiting for a nod from authorities to start ferrying the crop to the market.
He said at a recent stakeholders’ meeting, there was a deadlock on the minimum price.
“We wanted the minimum price to be set at K650 per kilogramme (kg) but one of the buyers said he was not ready to buy the crop beyond K500 per kg. We ended that meeting without reaching a concrete agreement,” Zidana said.
In a recent interview, agriculture policy expert Leonard Chimwaza said the industry was still rocked with many challenges.
Last year, the country managed to grow earnings from the crop by 170 percent, having recorded earnings revenue at K9.75 billion from K3.6 billion in 2021, according to CCM figures.
However, two cotton buying companies, Chartia Textiles Limited and Millennium Farms Limited, bowed out of the market due to financial constraints.
