August 19, 2016

Cotton prices double in Sagaing Region

Photo: Myitmakha News Angency
Photo: Myitmakha News Angency

A REDUCTION in the amount of cotton cultivated within some townships of Sagaing Region has meant good prices for cotton sellers, local cotton farmers have made it known.
The price for a viss (a viss is approximately 1.6 kilograms) of cotton in 2015 fetched K500 while this year has seen prices for the same quantity shoot up to K1,100.
“The cotton market is unpredictable, with prices jumping up and down. Prices were low last year, but this year has seen good prices as some cotton farmers have creased their operations because of loses or focus on other investments.” said Ko Htun Htun Soe, a cotton trader from Monywa.
A bad market for cotton last year saw some cotton farmers incur many loses, having the knock-on effect of a decline in those cultivating the crop.
“One shouldn’t grow cotton any more. The cotton market is stupid. If the cotton market was good, then maybe things would be okay for cotton growers. The price of cotton has increased this year with a reduction in the numbers of cotton farmers.
What I’m pretty sure about though is that cotton farmers have been facing losses for many years now.” said Ko Hsay Htun, a cotton farmer from Yinmabin township.
Sagaing Region boasts over a thousand acres of cotton fields, located throughout the townships of Monywa, ChaungU, Yinmabin, Pale, Budalin and Ayadaw, it is known from cotton farmers.— Myitmakha News Angency


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