Cotton sales down 20 per cent

cottonJOHANNESBURG AICCOs sales last year were down 20 per cent from the previous year due to growers apathy in the planting season. The formerly known Cotton Company of Zimbabwe stated that revenue for the year ending march 31 was US$120,7 million.

This was caused mainly by grower apathy and unavailability of key inputs. Overall, seed sales volumes for the year were 45,142 tonnes compared to 83,131 tonnes last year, said a company spokesperson.

It added that price controls and the effects of liquidity, working capital inadequacy and inconsistent availability of supplies negatively affected the company.

Post published in: Economy

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