Ben Kapita, Agriculture and Cooperatives Minister, Zambia, recently announced that floor price for cotton has increased over 32 percent in fiscal 2007-08.
This season, the price of cotton has reached ZMK1125 per kg, whereas in last fiscal year the rate was ZMK850 for one kg.
The increased price of cotton will inspire farmers to produce more cotton in the coming agri season.
However, two companies, Chipata Cotton Ginnery and Great Lakes Cotton Company have refused to sign floor price contract with the Cotton Association of Zambia.
This season, the price of cotton has reached ZMK1125 per kg, whereas in last fiscal year the rate was ZMK850 for one kg.
The increased price of cotton will inspire farmers to produce more cotton in the coming agri season.
However, two companies, Chipata Cotton Ginnery and Great Lakes Cotton Company have refused to sign floor price contract with the Cotton Association of Zambia.
