BAKU, Azerbaijan, February 4
By Amina Nazarli - Trend:
The government of Turkmenistan announced purchasing prices for cotton seeds, which was set at 1,000 manats ($285) per ton, Trend reports citing Turkmenpoprtal.
Cotton seeds produced by the Agriculture and Environmental Protection Ministry's cotton ginning factories and supplied to enterprises producing vegetable oil will be purchased at this price, in accordance with the decree, signed by President of Turkmenistan Gurbanguly Berdimuhamedov.
The document will safeguard the profitability of cotton ginning firms, manage their financial and economic interactions with vegetable oil production enterprises, and keep seed material costs stable for cotton growers.
Cotton farming is a key component of Turkmenistan's agro-industrial complex, with the country's natural conditions favoring the cultivation of medium and fine staple cotton varieties.
This year, it is planned to allocate 580,000 hectares of land across the country for cotton sowing. Last year Turkmenistan harvested 1.25 million tons of cotton.
The Central Asian country is one of the top ten cotton producers in the world supplying its product to China, Russia, the UK, South Korea, Turkey, Iran, Indonesia, Singapore, Ukraine, and the Baltic countries.
The country is investing millions of dollars in the sector to expand the cotton industry and build textile factories.