=Magway Region sees brisk sales of cottonseed from gins

  • Wed, 5 June 2024

=Magway Region sees brisk sales of cottonseed from gins

Cottonseed, which is an industrial crop, is in high demand from the mills, according to the Magway Region Government Office.

Most townships in the region cultivate cotton, which is 172,793 acres. Gangaw Township possesses only a handful of cotton acres.Products obtained from grinding cottonseed are exported. The businesses of fried crispy bean fritters mostly buy mill-processing cotton seed oil.

Next, the Cotton Producers Association organized a coordination meeting on cotton supply chain development in early May. The meeting outcomes highlighted a loan plan jointly provided by the Ministry of Commerce, the Agriculture Department, the Ministry of Cooperatives and Rural Development, quality seed, agriculture methods and exemption of mandatory dollar conversion into local currency specified by the Central Bank of Myanmar upon exportation through Kawthoung-Ranong trade channel.

The Ministry of Industry will purchase three million visses of cotton in the current 2024-2025 financial year, including 2.9 million visses of A-grade cotton and 100,000 visses of C-grade cotton.