Mozambique’s cotton exports fell by around 65 percent in the first quarter of this year, having exported just 24,300 tons of cotton, compared to an initial projection of 70,000, the Mozambican Cotton Institute (IAM) said.
According to information provided by the IAM to the Mozambican press, Mozambique netted almost US$38 million from cotton exports in the first three months of the year, but although projections had pointed to a total of US$109 million.
The downturn announced by IAM may affect the target of 135,000 tons initially set for 2013, which even if it is reached, will be significantly lower than exports in 2012, in which Mozambique exported round 184,000 tons.
On a more positive note, IAM said, cotton seed exports, which in the first quarter totalled around 100,000 tons, netted the Mozambican state a total of US$10.9 million. (macauhub)