Mozambican government increases cotton price by 58,6% and 57%

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Mozambican government increases cotton price by 58,6% and 57%

2:34 CAT | 03 May 2017

Notícias

The Mozambican government has increased by nearly 60 percent the price of cotton whose price is still managed by the executive.

One kilogram of high-quality seed cotton rises 58.6 percent and now costs 23 meticais (EUR 0.32 cents), while a kilogram of second-grade cotton increases 57 percent to 16.50 meticais (EUR 0.14 cents).

Speaking at a press conference at the end of the weekly session of the Council of Ministers, cabinet spokesman Mouzinho Saíde said that the new prices had been worked out by producers in discussion with the government.

“Unlike other agricultural products whose prices are liberalized, cotton prices are still under administration,” Saíde explained. The decision to increase prices was determined by inflation of almost 30 percent in the country last year, he added.

In yesterday’s Council of Ministers session, the cabinet approved a bill that frames recent changes to the biometric civil identity card, and said that it should be submitted to the Assembly of the Republic.

“It is a proposal for a law on the legal regime of the civil identification card, which aims to contribute to the enhancement of security and reliability of this document, taking into account the challenges that arise from the rapid development of information and communication technologies,” Saíde said.

The Council of Ministers also welcomed the World Bank’s April decision approving US$1.7 billion (EUR 1.5 billion) of new partnership strategy funding for Mozambique over the next four years, Saide announced.

Source: Lusa