Low cotton output projected

Low cotton output projected
Published: 19 August 2013
A sharp decline in local cotton output is projected this year while concerns abound that crop funding by merchants for the next season may be lower than the previous year.

It is understood that some cotton merchants may not provide financial support and inputs to farmers who failed to meet their contractual obligations this marketing season.

About 98% of cotton is grown under contract schemes. The schemes were introduced when farmers were failing to access finance from the banks due to lack of collateral.

Preliminary figures obtained from the Cotton Ginners' Association indicate cotton output could be as low as 145 000 tonnes, from the initial forecast of 250 000 tonnes.

This would be 58% lower the 2011/12 production of 347 000 tonnes.
- herald
Tags: Cotton,

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