The Cotton Development Organisation (CDO) has announced an indicative or minimum price of sh500 per kilogramme for this seasonâ€™s cotton crop
The Cotton Development Organisation (CDO) has announced an indicative or minimum price of sh500 per kilogramme for this seasonâ€™s cotton crop.
CDO managing director, Mrs. Jolly Sabune, disclosed this on Saturday while officiating at the Farmerâ€™s Day celebrations for C.N. Cotton Limited, the owners of Kachumbala Cotton ginnery in Kumi district.
Sabune said the latest price is up from sh350 offered last year.
She said however, farmers were free to negotiate with buyers for better prices.
She said some farmers were able to sell their cotton at sh700 during the last season. But Sabune added that cotton prices were determined by the prevailing international prices offered by the major buyers who were based in the United States and Japan.
She disclosed that 95% of the cotton produced in Uganda was exported in a raw form that made it difficult for her organisation to determine the price.
She told about 200 contract farmers from the districts of Kumi, Pallisa and Sironko to respect their contractual obligations.
Okello Ocero, the chairman, Uganda Cotton Ginners and Exporterâ€™s Association, Magambhai Patel, the C.N. Cotton managing director, and the MP for Bukedea County, Dr. Peter Eselle attended the ceremony.
Latest cotton prices announced in Kumi