Malawi cotton industry crisis
According to Malawi’s “National Daily” report on August 10, the latest data shows that due to the drought, Malawi’s cotton output this year dropped by 33% year-on-year to only 15,000 tons. Warren, a Malawian cotton expert and former vice chairman of the Malawi Cotton Development Fund, predicts that Malawi’s cotton sales this year will be approximately US$2.3 million (approximately 1.6 billion Kwacha), a year-on-year decrease of approximately 77%. Due to high prices and unstable prices in the international market, only 4 of Malawi’s 8 cotton ginneries have purchased cotton this year. At the same time, due to the sharp reduction in cotton production, most cotton farmers cannot repay their loans, and the Malawi Cotton Ginners Association has been forced to stop issuing loans to them. Malawi’s cotton market is facing many crises, which will not only reduce Malawi’s foreign exchange earnings, but also cause large-scale unemployment among cotton workers. The situation is very serious. Malawi cotton industry crisis
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