Malawi’s cotton industry has recorded a significant financial boost in the ongoing 2023–2024 market season, with over eight billion kwacha raised from the sale of 8 million kilograms of cotton so far. This announcement was made today by Prisca Jamali, spokesperson for the Cotton Council of Malawi, who highlighted that this year’s earnings represent a slight increase compared to the same period last year.
Despite expectations of a decline in cotton production this season, Malawi is poised to achieve higher earnings due to favorable pricing in the market. Buyers have been offering prices above the government-mandated minimum of K900 per kilogram, which has contributed to the improved financial outcome.
Last year, Malawi realized K5.9 billion from the sale of 10,000 metric tons of cotton, with a minimum price set at K580 per kilogram. The current market season, which commenced on May 9 and is scheduled to conclude next month after a 90-day run, has seen robust activity driven by competitive pricing and strong demand.
Jamali expressed optimism about the remainder of the season, noting that despite challenges such as reduced output, the sector is on track to surpass last year’s revenue figures. This development underscores the resilience and economic significance of Malawi’s cotton industry in contributing to national income and rural livelihoods.
The Cotton Council of Malawi continues to monitor market trends closely as the season progresses, aiming to maximize returns for cotton farmers across the country.
