The drop in cotton prices on the international market has affected Kenyan cotton growers because they currently do not expect producer prices to rise above the current level of 65 shillings/kg.
The cotton price in the global market dropped sharply by 43% from last year's 1.78 USD/lb to the current 1 USD/lb. This made it impossible to maintain the 65 shilling/kg farm delivery price set by the Kenya Cotton Development Bureau last year.
Kenya’s Cotton Development Agency proposed that the price paid to cotton growers should be reduced to 50-55 shillings/kg.
The Kenya Cotton Development Board Price Review Committee adjusts the price paid to cotton growers to consider factors such as global market trends and domestic production costs.
Last year, the price of cotton in Kenya was raised from the previous year's 32 shillings/kg to 65 shillings/kg. Therefore, cotton growers expect that prices will increase again this year.
In the rift region, cotton farmers control their inventory and expect better returns.
Lake Kenyatta Farmers Cooperatives account for 70% of cotton production in Lamusi. Farmers in the cooperative hope that the price of cotton can be raised next month, and they control more than 600 tons of stocks.
The cooperative bought 135 tons of cotton last year and the output of the cotton price is expected to increase. This is expected to be a higher price.
The cotton price in the global market dropped sharply by 43% from last year's 1.78 USD/lb to the current 1 USD/lb. This made it impossible to maintain the 65 shilling/kg farm delivery price set by the Kenya Cotton Development Bureau last year.
Kenya’s Cotton Development Agency proposed that the price paid to cotton growers should be reduced to 50-55 shillings/kg.
The Kenya Cotton Development Board Price Review Committee adjusts the price paid to cotton growers to consider factors such as global market trends and domestic production costs.
Last year, the price of cotton in Kenya was raised from the previous year's 32 shillings/kg to 65 shillings/kg. Therefore, cotton growers expect that prices will increase again this year.
In the rift region, cotton farmers control their inventory and expect better returns.
Lake Kenyatta Farmers Cooperatives account for 70% of cotton production in Lamusi. Farmers in the cooperative hope that the price of cotton can be raised next month, and they control more than 600 tons of stocks.
The cooperative bought 135 tons of cotton last year and the output of the cotton price is expected to increase. This is expected to be a higher price.
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