Heavy rains lessen cotton quality
- Wed, 25 October 2023
Heavy rains this year cause high moisture content in cotton and bring down the prices. The prevailing prices of cotton stand at K2,800-3,000 per viss. High moisture content scales down the prices.
In the pre-monsoon season, the cotton fetched K3,500 per viss. Dried cotton is mostly purchased at higher prices in the domestic market as it can be exported to external markets.
The cotton is mix-cropped with monsoon sesame in May and June. Certain goods can enjoy preferential tariffs with the Certificate of Origin (Form E) under the ASEAN-China Free Trade Agreement while delivering goods through the Muse 105th mile trade zone. Cotton is mostly granted Form E. Myanmar Cotton and Cotton Products Merchant Association is prioritizing ramping up the yield of quality cotton per acre rather than expanding the growing acres to meet export targets beyond self-sufficiency. The association called for government officials to link with the companies for the importation of hybrid cotton.
At present, the requirement for cotton consumption is 363 million visses whereas the production rate is only 198.7 million visses. Thus, the cotton yield meets only half of the demand. — TWA/EM