The cotton floor producer price was set by Government at $43.94 a kilogramme for the present marketing season.
The price was announced by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa, while addressing a post-Cabinet media briefing.
She said the price proposal was tabled to Cabinet by Minister of Lands, Agriculture, Water and Rural Resettlement Perrance Shiri in his capacity as deputy chairman of the Cabinet Committee on Food Security and Nutrition.
“Cabinet considered and approved a cotton floor producer price of Z$43.94/kg for the 2020-2021 cotton marketing season, which gives the farmer a 15 percent return and ensures viability and competitiveness of the cotton industry,” Minister Mutsvangwa said.
The minister said the $43.94/kg producer price would be paid out in three sums: US$10 for each bale of cotton delivered, 38 percent of the value of a 200kg bale in cash and the balance transferred electronically to farmers’ mobile money wallets.
“It is emphasised that the price and provision of inputs support in the production of cotton is part of Government’s social protection and provision of safety nets programme to alleviate the plight of marginalised rural farmers.
“All inputs for cotton producers are free,” she said.
Zimbabwe Farmers Union president, Mr Abdul Nyathi yesterday discouraged farmers from side-marketing their crop.