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Zimbabwe Cotton Company (Cottco) plans to generate US$2 billion from new seed variety
Deputy Minister of Lands, Agriculture, Climate and Rural Resettlement Cde Douglas Karoro, said that Zimbabwe cotton company (Cottco) is set to introduce a new seed variety. This new seed variety will help in boosting production from 140 000 tonnes to 504 000 tonnes per year. Likewise, generate US$2 billion to revenue from next year.
The strategy comes from the recent announcement of a new producer price of RTGS$1,95 by the Government. As farmers start preparing for 2019 selling season.
According to Karoro, the Government is steadfast in making sure that cotton growers are successful. While supporting them under the Presidential Inputs Support Scheme. Despite the drought that the country experienced this farming season.
Karoro further said that Cottco plans to improve the livelihoods of cotton farmers and everyone in the cotton industry. However, through the new hybrid seed, Zimbabwe can earn $2 billion from US$ 100 million that it is getting at the moment.