Friday, 22 July 2011

Cotton buyers see hopes for better pay vanish

From Daily News, Dar es Salaam

EXACTLY 30 days after the 2011/12 cotton buying season kicked off in the Western Cotton Growing Zone last month, the cash crop growers in Shinyanga, Mwanza, Mara and Kagera regions have pocketed 55bn/- out of at least 300bn/- that they initially envisaged to earn by the end of the season.

The crop buying season started on June 20, 2011, with cotton growers expecting to earn at least 300bn/- from the sale of over 250,000 tones of the cash crop at an average farm gate price of 1,100/- per kilogramme.

“The season is not good even though we have performed relatively better than last year in terms of the buying speed,” Tanzania Cotton Board (TCB) Director General Marco Mtunga told the 'Daily News' over a telephone interview from the lakeside city of Mwanza on Wednesday.

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