Cotton farmers laud 75 percent forex retention 

Source: Cotton farmers laud 75 percent forex retention | The Herald

Cotton farmers laud 75 percent forex retention
Mr and Mrs Mhlauri have a feel of their brand new tractor while Minister Masuka (right) and others cheer them on

Conrad Mupesa Mashonaland West Bureau

COTTON farmers have welcomed the decision by Government for Cottco to pay them 75-percent of their total sales in United State dollars.

The remainder will be instantly paid in Zimbabwe dollars at prevailing interbank upon delivery of the crop at any Cottco buying point.

The decision by Government to pay cotton farmers in forex was announced by Lands, Agriculture, Water, Fisheries and Rural Development Minister, Dr Anxious Masuka yesterday at Bertrice Farm in Makonde constituency during an event to honour top three outstanding national cotton farmers for the 2020-2021 season.

Minister Masuka with the winners

All the three are from Makonde, Mashonaland West province with outstanding winner Mr Peter Mhlauri of Goldenview Farm receiving a 75-horsepower tractor, plough and trailer valued at US$45 000 after producing 107 bales of cotton from an eight-hectare portion.

The other two winners, Mr Talent Majoni and Mr Joseph Wasarirevhu took home a solar-powered borehole and home solar-power installations respectively.

The three said payment of farmers in forex was going to see a rebound of the cotton industry.

Cotton Farmers Association of Zimbabwe president Mr Stewart Mubonderi said the decision will result in farmers delivering at least a million tonnes each season.