Turkmenistan carries out financial reckoning with raw cotton producers

Ashgabat, Turkmenistan, Dec.29
By Huseyn Hasanov- Trend:

Financial reckoning for harvested raw cotton has been completed in Turkmenistan with funds from the credit line of Daykhanbank state commercial bank, according to Neutral Turkmenistan newspaper. The financial reckoning is carried out by Turkmenpagta -Turkmencotton state concern.

Cotton growers fulfilled their contractual obligations and harvested over 1.05 million tons of raw cotton in 2013, according to the newspaper.

The last three seasons harvesting campaigns reflected the dynamic growth in production of this valuable fiber, according to the newspaper. The crop volume accounted for 103 percent of the contractual obligations in 2011, 111 percent in 2012 and over 113 percent in 2013.

Over 9,000 units of agricultural machinery were involved in the cotton harvest from a total land area of 550,000 hectares. Some 159 procurement points and 36 ginning factories worked round-the-clock, according to the newspaper.

The newspaper pointed out that a provision approved in accordance with Turkmen president's decree "On ensuring high yields of cotton in Turkmenistan and economic incentives for cotton producers" became an incentive to increase production of this valuable raw material.

An approximate 30 percent interest premium to the purchase price was paid for the cotton handed over in excess of contractual obligations.

"Thus, it is the second year that the measures aimed at increasing the interest of agricultural producers in high harvest are practiced. Additionally, agricultural producers also enjoy the right to independently sell the harvest which exceeded the planned volume," Neutral Turkmenistan newspaper said.

Translated by L.Z.

Edited by C.N.

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