Cotton farmers to benefit from new state policy

In Turkmenistan, tenants of cotton farms have been authorized to sell excess quantity of cotton through the Commodity Exchange.

The President of Turkmenistan Gurbanguly Berdimuhamedov announced the decision at a cabinet meeting after heads of regional administrations informed him about preparations on sowing the crop.

He said “Prices of cotton have touched US $5,000 per ton as they have increased steadily in world markets. So, we are introducing a new scheme, under which farmers can sell their surplus crop through the Commodity Exchange, after fulfilling their obligations to the state”.

The prices of cotton at the world markets are rising steadily and the cost of one ton of cotton fiber is more than US $5,000. Under these conditions, we introduce a new procedure for sale of above-plan cotton,” In Turkmenistan, the tenants have to sell the crop to the state first under the contract.

He added by saying, “the sale of surplus cotton through the exchange will help improve yields, as well as allow farmers to make a tidy profit and also enable them to pay off their debts and purchase new farm equipment”.

According to him, the sale of excess cotton through the exchange will allow tenants not only to make a good profit but will improve the productivity of land. As a result they will be able to purchase new farm equipment and pay off existing debts.”