MoI announces purchase of local cotton through tender system

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The photo shows cotton production from a cotton gin.

The Ministry of Industry has announced that local surplus cotton will be purchased through a tender system. The ministry intends to purchase 2.9 million visses of Grade A cotton and 100,000 visses of Grade C cotton for its cotton gins.
Currently, the ministry is reportedly providing loans of K200,000 per acre for cotton cultivation. Cotton is considered an essential commodity and is primarily grown in the Magway, Mandalay, and Sagaing regions.
Cotton wool comes out from November to mid-April. Additionally, authorities have prohibited the hoarding of cotton crops to manipulate or increase market prices. — TWA/TMT

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