COTTCO says it has paid US$15,9 million to farmers to date and the remaining 32 percent is expected to be cleared in the month of September 2023 as market liquidity improves.
In a trading update for the period from July 1 2022 to August 31, 2023 Cottco said has achieved a 48 percent increase in intake from 46 748 metric tonnes in 2022 to 69 146 metric tonnes as the buying season draws to an end.
“Ginning has commenced at all ginning sites and product deliveries are underway. The company’s order book continues to surpass available supply.
“Cottco’s value addition initiative has seen the company converting over 800tonnes of lint to yarn for the local market,” Cottco said.