May 30 (Bloomberg) -- Zimbabwe’s government will be the sole buyer of cotton from farmers this year after growers protested the price offered by merchants, the state-controlled Chronicle reported, citing Agriculture Minister Joseph Made.
The agriculture department and the indigenization ministry will allocate funds to buy the cotton, Made told the Bulawayo-based Chronicle. The ministries haven’t yet set a price for the crop, the newspaper reported.
Cotton merchants were offering between $0.35 and $0.50 a kilogram (2.2 pounds), while farmers were demanding $0.85 to $1.20, the Chronicle said. Merchant prices were comparable with prices in the southern African region, the newspaper said.
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