Cotton farmers welcome new payment system

By Tendai Munengwa

COTTON farmers have welcomed the payment on delivery model adopted by the Cotton Company of Zimbabwe (COTTCO), saying it will see growers getting real value for their product.

Cotton Producers and Marketers Association Chairperson, Mr Steward Mubonderi described the payment system as a game changer that will boost confidence for farmers to increase production.

“We are very happy about this development. Unlike in the past year where it was nightmare for farmers to get paid. This payment on the spot system will enable farmers to plan properly and boost production going forward,” said Mr Mubonderi.

The 2022 to 2023 cotton marketing season is scheduled to start on the 13th of this Month and COTTCO has assured farmers that it has secured adequate funds to pay them on delivery.

The Reserve Bank of Zimbabwe has also raised the foreign currency component for cotton to US$30 per bale from US$10.