Zimbabwean cotton farmers seek payment in Forex

Zimbabwean cotton farmers are calling for payment in foreign currency to cushion the rising costs of producing the crop. The farmers seek to be paid in United States dollars, while asking the Cotton Producers and Marketing Association to be paid in hard currency.The local bond note is losing value r...

By TVCN

May 24, 2019 11:27 AM GMT+1

Zimbabwean cotton farmers are calling for payment in foreign currency to cushion the rising costs of producing the crop.

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The farmers seek to be paid in United States dollars, while asking the Cotton Producers and Marketing Association to be paid in hard currency.The local bond note is losing value regularly.

The Manager, Cotton Company of Zimbabwe Munyaradzi Chikasha, said they would only be able to pay farmers in foreign currency if government approved and made the money available.