The Cotton Company of Zimbabwe (COTTCO) will start buying cotton from farmers at 45 cents per kg this week, while US$53 million has been set aside for the forthcoming agricultural season.
The buying of cotton was made public at an outreach programme by officials from COTTCO in Gokwe Nembudziya, where farmers expressed their views regarding the obtaining price and what is expected from the firm to ensure good working relations.
COTTCO officials said the buying of cotton at 45 cents will start this week while registration of farmers for the forthcoming season has also started.
They also revealed that US$53 million has been set aside to finance cotton farming this season.
Gokwe Nembudziya legislator, Cde Justice Mayor Wadyajena called on farmers to support the cotton company by delivering their crop, while also urging officials from the cotton company to desist from reaping off farmers.
COTTCO has been reeling under a huge debt of over US$20 million which the government inherited and ushered in new management which is mandated to steer the firm to profitability