Cottco speaks on side marketers

By Tichaona Kurewa

THE Cotton Company of Zimbabwe (Cottco) has allayed fears of side-marketing of cotton, whose production is being funded by the government.

The recent announcement of pre-planting cotton producer prices for cotton has raised fears that the crop financed under the government’s Pfumvudza programme might find its way to the parallel market given the price differences between the government-funded cotton and that not financed.

The price was set at 63.23 Zimbabwe dollars per kilogramme for cotton produced under Pfumvudza/Intwasa Scheme and 111.17 Zimbabwe dollars per kilogram for the crop financed under non-government-funded arrangements.

Cotton Company of Zimbabwe (Cottco) Managing Director, Pious Manamike however warned that those found on the wrong side of the law will be punished.

“We evoke the law if someone decides to side market; there is Statutory Instrument 96 of 2021 which came in. We believe that it is strong enough to block any side marketing and to that end, we will be working with AMA (Agriculture Marketing Authority) to enforce the statutory instrument together with law enforcement agencies.”

Meanwhile, Manamike has confirmed that cotton lint worthy 80 000 United States dollars was burnt in Mt Darwin this Monday after the truck transporting the white gold caught fire.

Cotton is a source of income for over 250 000 households especially in dry parts of the country and is also a key raw material in the manufacturing of stock feed, cooking oil and clothing material.

The post Cottco speaks on side marketers appeared first on ZBC NEWS.

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