By Thursday 25th April, the cotton market will have been open for a week and is expected to be open for 3 months, announced by the Cotton Council of Malawi (CCM).
CCM Executive Director Cosmas Luwanda revealed that the minimum price for buyers is K375 perkilogram (kg), which is the same price as last year’s. Luwanda justified the unchanging price saying that a rigorous consultative process with industry stakeholders was taken into account the cost of production and prevailing international market prices.
“Cotton farmers will be deducted K20/kg to contribute to Cotton Development Fund” concluded Luwanda.