Contents
Page
Minutes
3
Summarization of Mr. Bourne Chooka
7
Appendices:
15
Speech by Permanent Secretary Mr. Siazongo Siakalenge
Expectations of participants
Presentation on Cotton Sector Regulations by Stephen Kabwe
Presentation of Pricing Systems in Africa by Gérald Estur
Attendance List
Workshop on Seed Cotton Price Setting Models
Page 2
Minutes
The eagerl e pe ted orkshop o
“eed Cotto Pri e “etti g Models took pla e
at the Cresta Golf View Hotel, Lusaka, on April 9th 2013 with the attendance of
farmers, ginners, government officials and representatives of other institutions of
the private sector.
Some prior concerns about a tense disposition could soon be dissolved, as the
expectations arisen from an introductory brainstorming showed a major
consensus about the intended outcome of the meeting.
A fair u dersta di g a o g
gi
otto
stakeholders
hi h takes far er’s a d
er’s osts i to a ou t a d leads to a o petiti e
odel for seed pricing
which ought to be flexible to world price dynamics, was expected to be the ideal
result.
To pro ide ge eral i for atio , Mr. “tephe Ka
Poli
Resear h I stitute ga e a prese tatio o
the eed for seed otto pri e setti g i )a
e fro
the I da a Agri ultural
otto se tor regulatio s and
ia . A al zi g the pre ious oo s
and busts throughout the sector, he emphasized on the importance of a price
setting mechanism, which the Cotton Act is still currently lacking. Rating the
Zambian sector as
e pe ted tha
o e trated a d
those i
the
arket- ased , lo er pri es should e
o petiti e
se tors
ith
a
u ers.
Nevertheless, a regulation needs to be licensed by the Cotton Board of Zambia,
hi h is tra spare t a d e for ea le a d a hie es
se tor stakeholders o a
oordi atio
et ee
i -win- basis. Reasonable trade barriers need to be
installed to avoid side-selling, and screening of new people coming into the sector
should e o sidered. As e ha i g produ ti it at far
Workshop on Seed Cotton Price Setting Models
a d gi
er le el
ill
Page 3
e the ke for a sustai a le otto se tor , o e should put
ore e phasis o
the outcomes and provide equal information to all the players.
Referring to the differe t
otto pri i g s ste s i Afri a , the o sulta t for the
initiative, Mr. Gérald Estur, then pointed out, that Zambia is one of the few
ou tries hi h is la ki g a for ula. This, o top of the
olatilit of i ter atio al
cotton prices, unreliable proje tio s a d dis o ti uous, u predi ta le e ha ge
rates , i reases the pri e risk for )a
ia produ ers. E e though there is o
perfect solution for creating a price-setting system, it is vital that ginners and
producers agree on certain parameters and, moreover, increase productivity, so
that the cotton production remains competitive and profitable. Mr. Estur’s
recommendations i ol e a tra spare t for ula
hi h:
al ulates the produ er
price as a fixed percentage of lint and seeds sales, based on easily accessible and
erifia le refere es , per its flexibility within the season, allowing an adaption
to olatile
orld pri es periodi al re isio
a d a stipulated
i i u
support
pri e .
Even though one could reach a consensus on a lot of the objectives, a vivid
discussion arose after the three groups (farmers, ginners and government
officials) had presented their opinions on the different price mechanism
parameters:
Workshop on Seed Cotton Price Setting Models
Page 4
How the groups voted:
Price Mechanisms
1. Market price or administered?
Farmers
no
Ginners
Market price
Government
administered
2. Price set by: government, ginners,
cotton board/ interprofession, producers?
officially homologated?
3. Negotiated or calculated?
yes
Yes, ginners & producers
Price set by ginners
Yes
Negotiated based on calculations
Calculated
4. Pricing formula taking into account
ginner costs/producer costs?
5. Producer price based on percentage of
world price?
6. Price set: before planting, before
marketing at purchase, pluri-annually?
7. Indicative or minimum guaranteed
price?
8. Pan-territorial (national, regional,
ginnery)?
9. Price set at: farm gate, collection point,
ginnery gate?
10. Quality differentials?
Yes
Both ginner and producer costs
Yes, both
No (producer price
locally)
Before planting
No (but take into account)
Yes
Before marketing
Point was adopted
yes
Real price (neither indicative nor minimum)
indicative
yes
No agreement
no
National-should take into account quality/transport
(regional aspects)
Farm gate-ideally gin gate
yes
Yes, like in the past
yes
11. Pan-seasonal? Fixed or revisable
(during or at the end of marketing
season)?
12. Price paid cash or after delivery?
no
Revisable-both ways
Revised
cash but not in
advance
yes
cash
cash
Not there yet, but there should be one (yes)
yes
13. Prize support or stabilization fund?
Adopt the whole
Suggestions: grading, fewer delivery points,
payment to farmers through banks
Workshop on Seed Cotton Price Setting Models
Page 5
The main arguments were about: the time at which the price should be set, if the
price should be based on the percentage of the world price, and if it should be
indicative or a minimum price should be guaranteed. Farmers voted in favour of
setting the price before planting, whereas the ginners want it to be set just before
marketing.
While government representatives feared one could not run away from
international forces, farmers and ginners argued in favour of a local focus when
setting the producer price, which is never the less geared to the international
circumstances. Ideally, then, the farmers unit should negotiate the price
individually with the ginners. As this system is probably too complex, the parties
stipulated that the industry could set a minimum price which is negotiated with
the ginners and based on the world price but subject to revisions during the
season.
Moreover, the issue of missing quality differentials was discussed. The farmers
stated that they got the impression in the past, that some ginners were not
interested in the quality and thus not willing to pay according to the grade of
quality. Ginners opposed that due to the lack of a national grading system, they
were forced to classify the lint themselves and often made a costly efforts to
clean the cotton as well. As, at the same time, they had to save their input pricing,
a lot of pressure was put on them not to lose their farmers to the competitors,
which then would lead to a price adjustment anyway. In fact, ginners are in favour
of a gradi g s ste , ut o e i
A otto . Far ers the
hi h far ers should ot tr to sell B otto
ade the suggestio , that the gi
for
ers should stop
financing the farmers all together and make the seeds available on the market
(like for other crops). A compromise could be reached, if the CBZ sets the
Workshop on Seed Cotton Price Setting Models
Page 6
parameters in close interaction with the whole sector. Nonetheless, all parties
agreed on the fact that quality differentials should be taken into account, as well
as creating a stabilization fund as a safety cushion when world market prices are
too low. Government officials however argued, that all stakeholders should
deposit into the fund, so that no party would have a reason to exploit the system.
All groups stated in their closing arguments, that the meeting was important to
share and get to know the views of all the parties involved and that the people
present were positive about the fact that, with the help of the consultant, an
adequate formula can be determined to fairly allocate the revenues and risks.
Thus, the workshop successfully laid the cornerstone to further developing a
pricing model.
Summarization of Mr. Bourne Chooka
Preamble and Objectives of the Workshop
)a ia’s otto i dustr has been a success story since privatization of the only
parastatal o pa the Li t Co pa of )a ia Li ited i 99 . The se tor has
grown by over 100% in terms of area planted, numbers of farmers growing cotton
and production. There are currently over 200,000 households growing seed
cotton and with an average number of 6 persons per household, it translates into
over 1.2million people directly benefiting from the seed cotton production.
Workshop on Seed Cotton Price Setting Models
Page 7
Despite the above successes, the cotton sector has been faced with key critical
challenges and if left unchecked could plunge the sector into total collapse.
Among these challenges, is lack of a clear understanding or national formula that
is used to arrive at a producer price for cotton.
It is with the forgoing that more than 30 key cotton industry stakeholders from
the Government, Cotton Board of Zambia (CBZ), Zambia Cotton Ginners
Association (ZCGA), Cotton Association of Zambia (CAZ), Cotton Development
Trust (CDT), Consumer and Competition Protection Commission (CCPC), Zambia
National Farmers Union (ZNFU), Seed Control and Certification Institute (SCCI) and
Indaba for Agricultural Policy Research Institute (IAPRI) others from
developmental partners met on 9th April 2013 to discuss the pros and cons of
different seed cotton pricing models and meet and as interested stakeholders to
seek and create a conducive cooperation within the cotton industry. The
workshop was organized and sponsored by the Competitive African Cotton
Initiative (COMPACI) in conjunction with the Cotton Board of Zambia.
Opening Address
The workshop was opened by the Permanent Secretary (PS) – Ministry of
Agriculture and Livestock (MAL). In his address, the PS told the gathering that the
seed cotton producer prices in Zambia has been a thorny issue in the past 4 – 5
ears ith egotiatio s et ee CA) ei g far ers’ represe tati es a d )CGA
ei g gi ers’ represe tati es ei g ost a ri o ious i the
/ seaso . He
told the gathering that it had been brought to his attention that the reduced
producer price for that season was due to the fall in lint prices on the
Workshop on Seed Cotton Price Setting Models
Page 8
international market that had a direct bearing on the producer prices to be paid
by ginners. This he said, was not akin to Zambia alone as prices of cotton reduced
worldwide, save for the countries that had either subsidies or had a stabilization
fund in place to cushion the fall in producer prices. He commended COMPACI for
not only sponsoring the workshop but also for its intervention in the extension to
try and improve the productivity of cotton which was also an important aspect to
be considered when analyzing retained farmers earnings from growing cotton. He
said i )a ia e eed to o ti ue to tr to i pro e produ ti it le els fro
yearly averages of only around 450kg/Ha, to achieving yields much closer to the
potential of the seed – which is way in excess of 1,000kgs/Hectare. Even
i reasi g this ield to sa 7 kgs/Ha ould sig ifi a tl e ha e far ers’ et
earnings, as his income rises yet his cost of inputs remains pretty much the sa e
He lamented lack of value addiction in the cotton value chain told the workshop
that virtually all lint produced in Zambia was for export.. This was the more
reason why producer prices for cotton was so dependent on world lint prices
which unfortunately were quite volatile.
He was aware that market data such as the Cotlook A index and the New York
futures market were used when arriving at a price prior to harvest time since they
were the only real indicators of realizable market prices of lint. It seemed that the
da s of Margi al Crop A al sis ere go e ut as sure that so e far ers had
their own analysis when deciding which crop to grow the following the season.
He agreed with the theme of the workshop which was to create a conducive
cooperation within the cotton industry.
Workshop on Seed Cotton Price Setting Models
Page 9
Expectations from participants.
It was interesting to note the varying expectations from participants that include
the following:










To have a clear perspective of what works, where and why
Fair understanding of factors that influence producer price
Better cooperation among cotton stakeholders on cotton price fixing
Recommend price setting models for Zambia taking into account farmers
and ginners costs
Establish what caused the price impasse in the cotton industry
Adopt/develop a competitive price model for seed cotton pricing
Create a realistic price mechanism which is fair for the different parties and
taking into account prevailing situation and flexible to world price dynamics
Need less Government intervention in price setting in Zambia – private
sector needs to find solutions amongst themselves
Enhance trust among stakeholders
To kick start the process of developing an acceptable price mechanism by
the industry
To re ei e the o sulta t’s progra for the aseli e sur ey leading to seed
cotton price setting model
Workshop on Seed Cotton Price Setting Models
Page 10
Paper1. Cotton sector regulations and the need for seed cotton price setting in
Zambia.
In his presentation, Mr. Stephen Kabwe, from IAPRI gave an outline of the cotton
sector in Zambia. The sector was characterized with a boom after privatization
with production rising from 32,000Mt in 1994 to over 200,000Mt in 2011/12
season and then a crisis due to lack of regulatory framework in place, with
rampant side selling and side buying challenges resulting in huge input loan
default by farmers. In 2005, the Cotton Act was enacted to from the Cotton Board
of Zambia and to regulate the cotton industry as it relates to the production and
ginning of seed cotton; to control the production and marketing of cotton and to
provide for matters connected with or incidental to the foregoing. Even with the
Act in place, the sector lacked price setting mechanism. The sector could be
defined as concentrated and market based where there are few buyers/ginners,
more input credit and extension provision thus better yields but have lower prices
compared to competitive sectors with many buyers and less extension and input
support. There was need to put in place regulatory approach to sector type with
such objectives as to ensure continued provision of inputs to smallholder famers
and maintenance of high quality lint. Also, to ensure that a win-win price for both
ginners and farmers is set either through market competition or some form of
competition substitute. While appreciating the role the CCPC is playing to level
the seed cotton pricing field in the country, he warned that the anti-trust focus
could be counter-productive given the reality of the credit and input market
failure. The way forward according to him, was have a price setting mechanism
that is more formalized and transparent, that can generate a win-win indicative
price to reduce the price disputes between farmers and ginners. Further, he
recommended that the CCPC needed to focus on outcomes rather than process
so as to ensure that the prices paid to farmers are competitive and that there was
no collusion in arriving at a price.
Workshop on Seed Cotton Price Setting Models
Page 11
Paper2. Cotton Pricing Systems in Africa.
Mr. Gerald Estur, the consultant on cotton pricing models presented an overview
of the pricing systems, constraints and challenges, objectives and principles,
outlook for cotton prices, Zambia in perspective and conclusions and
recommendations. He told the audience that the producer prices were directly or
indirectly related to international cotton prices and that producers sold their lint
to countries where cotton was harvested mechanically and that producers sold
cotton in countries where cotton is hand-picked.
The price mechanisms took into consideration the following factors:
a) Is it market price or administered
b) Price set by government, ginners, cotton board/interprofesssional,
producers, official homologated
c) Negotiated or calculated
d) Pricing formula taking into account ginners costs/producer costs
e) Producer price based on percentage of world price
f) Price set before planting, before marketing at purchase or pluri-annual
g) Indicative or minimum guaranteed price
h) Pan-territorial 9national, regional, ginnery)
i) Price set at farm gate, collection point, ginnery gate
j) Quality differentials
k) Pan-seasonal? Fixed or revisable (during or at the end of the season)
Workshop on Seed Cotton Price Setting Models
Page 12
l) Price paid cash or after delivery
m) Price support or stabilization fund
Participants were put into three groups, that is farmers, ginners and government
and were asked to answer the above questions. As would be expected, the results
showed inclination or biasness towards group belongings.
Price setting mechanisms in Africa depend on the cotton sector structure and
mainly on degree of competition among ginners. In West and Central African
states, the price is pan-seasonal, minimum guaranteed pre-planting price based
on a percentage of international prices. In East and Southern African states, the
price is fixed just before marketing based on international price projections minus
the costs. This scenario has an increased price risk for producers and more
fluctuations in production. In particular, the consultant told the participants that
Zambia did not have a formula for arriving at a price. This, coupled with the
volatility of the international cotton prices and unpredictable exchange rates
increases the price risk for producers in Zambia. He emphasized the point that
there was no perfect reference for cotton prices with Cotlook A index being just a
quote and the ICE futures market not perfectly correlated with international
cotton prices for physical cotton. He also talked about the need to address the
issue of produ ti it as pri e is o l o e ele e t of produ ers’ re e ues. The
other issue to take into consideration was the quality of the fibre noting that
African cotton is discounted due to perceived risks of contamination despite the
fact that hand-picked produces better lint. The main objective of a pricing system
was to contribute to the improving the performance and competitiveness of the
cotton sector, increase transparency and build trust and mitigate risks of intraseasonal price volatility. In summary, he recommended a simple and transparent
formula where the producer price could be calculated as a fixed percentage of lint
and seed sales based on easily accessible and verifiable data. It should also be
flexible, allowing for adaption to volatile world price.
Workshop on Seed Cotton Price Setting Models
Page 13
Outcome
There was general feeling and agreement among the participants that Zambia
should i deed look i to de elopi g a pri i g for ula soo er rather tha later
taking into account the international lint prices, seed revenue and ginners and
farmers costs. The consultant was asked to come up with a questionnaire to help
develop the required formula.
Workshop on Seed Cotton Price Setting Models
Page 14
REPUBLIC OF ZAMBIA
MINISTRY OF AGRICULTURE
AND LIVESTOCK
SPEECH
BY MR. SIAZONGO SIAKALENGE
PERMANENT SECRETARY
AT THE SEED COTTON PRICING MECHANISM
WORKSHOP HELD AT CRESTA GOLF VIEW HOTEL,
LUSAKA
9TH APRIL, 2013
- THE CHAIRMAN, COTTON BOARD OF ZAMBIA,
- EXECUTIVE DIRECTOR IAPRI,
- DIRECTOR COTTON DEVELOPMENT TRUST,
- CHAIRPERSON ZAMBIA COTTON GINNERS ASSOCIATION,
- CHAIRPERSON COTTON ASSOCIATION OF ZAMBIA,
- REPRESENTATIVE FROM ZAMBIA NATIONAL FARMERS UNION,
FARMERS,
- DIRECTORS FROM GOVERNMENT MINISTRIES PRESENT,
- GINNERS
- LADIES AND GENTLEMEN
I AM GREATLY HONOURED TO BE GIVEN THE OPPORTUNITY TO ADDRESS THIS
IMPORTANT GATHERING. LET ME THANK THE ORGANIZERS OF THIS WORKSHOP,
THE COTTON BOARD OF ZAMBIA AND THE COMPETITIVE AFRICAN COTTON
INITIATIVE (COMPACI) AND THE GERMAN GOVERNMENT FOR FINANCIAL
ASSISTANCE. THERE IS NO BETTER TIME TO HOLD A WORKSHOP OF SUCH NATURE
THAN NOW WHEN WE ARE APPROACHING THE BEGINNING OF THE
2013/2014AGRICULTURAL MARKETING SEASON.
MR. CHAIRMAN, DISTINGUISHED GUESTS, THE SEED COTTON PRODUCER PRICE
IN ZAMBIA HAS BEEN A THORNY ISSUE PARTICULARLY IN THE PAST FIVE YEARS. I
MUST SAY NEGOTIATIONS BETWEEN THE FARMER REPRESENTATIVES AND
GINNERS REPRESENTATIVES, WEREMOST ACRIMONIOUS IN THE 2012/2013
MARKETING SEASON. MOST OF US PRESENT HERE ARE AWARE OF THE EFFORTS
THE
GOVERNMENT,
THROUGH
MY
MINISTRY,
PUT
IN
TO
THOSE
NEGOTIATIONSTO TRY AND BRING THE TWO PARTIES TO AN AGREEMENT AND
Workshop on Seed Cotton Price Setting Models
Page 16
PAY A PRICE THAT WOULD RESULT IN A WIN-WIN SITUATION TO BOTH THE
GINNERS AND THE FARMERS. UNFORTUNATELY, THE FINAL PRICE OFFERED TO
OUR COTTON FARMERS WAS FAR BELOW THE EXPECTED OFFER PRICE DUE TO
LOWER LINT PRICE ON THE WORLD MARKET. I UNDERSTAND THAT THE SAME
FRUSTRATIONS WERE EVIDENT IN OUR NEIBOURINGING COUNTRIES SUCH AS
ZIMBABWE, MALAWI, MOZAMBIQUE, TANZANIA AND SOUTH AFRICA ANDALL
OTHER COTTON GROWING COUNTRIES AROUND THE GLOBE.
THE OUTCOME OF A REDUCED PRODUCER PRICE IN ZAMBIA, AND INDEED IN ALL
THESE OTHER COUNTRIES, IS A REDUCED HACTERAGE PLANTED UNDER COTTON
IN THE 2012/13 AGRICULTURAL SEASON. I AM INFORMEDTHAT ZAMBIAIS LIKELY
TO RECORD AN ESTIMATED 40% REDUCTION IN COTTON PRODUCTION THIS
SEASON AS A RESULT OF POOR PRICES THAT WERE OFFERED LAST YEAR AND THE
UNFAVOURABLE GROWING CONDITIONS FACED THIS SEASON.
MR. CHAIRMAN, DISTINGUISHED GUESTS, IT IS WELL UNDERSTOOD THAT
COTTON IN ZAMBIA IS GROWN MAINLY BY SMALLHOLDER FARMERS WHO
RECIEVE PRODUCTION INPUTS FROM THE GINNING COMPANIES IN FORM OF
SEED, CHEMICALS, FERTILIZERS AND SPRAYERS. THE GINNERS ALSO PROVIDE
EXTENSION SERVICES, SUPPLEMENTING GOVERNMENT EXTENTION SERVICES.
OTHERS PROVIDING EXTENTION SERVICES INCLUDE THE COTTON ASSOCIATION
OF ZAMBIA, CONSERVATION FARMING UNIT AND THE COMPETITIVE AFRICAN
COTTON INITIATIVE (COMPACI). IN ORDER FOR THE SMALLSACLE FARMERS TO
MAKE GAINFUL INCOME FROM THE SALE OF COTTON IN AN ENVIRONMENT
WHERE EVENTS ON THE GLOBAL MARKET DICTATE THE PRICE OF COTTON,
Workshop on Seed Cotton Price Setting Models
Page 17
GOVERNMENT NEEDS TO PUT IN PLACE MECHANISMS THAT WILL CUSHION THE
SMALL SCALE FARMERS FROM SUCH CATASTROPHIC EVENTS. ONE SUCH
MEASURE THAT GOVERNMENT HAS PUT IN PLACE THROUGHTHE MINISTRY OF
AGRICULTURE AND LIVESTOCK IS THE ESTABLISHMENT OF A COMMODITY PRICE
STABILIZATION FUND IN THE 2013 BUDGET. A TOTAL OF 3 BILLION KWACHA HAS
BEEN ALLOCATED FOR THIS PURPOSE.
PRICING MODELS SHOULD NOT BE CONSIDERED IN ISOLATION. THERE IS NEED TO
ADDRESS THE ISSUE OF LOW PRODUCTIVITY IN AGRICULTURE. EXTENSION
SERVICES AND YIELD IMPROVEMENT TRAINING ARE PROBABLY AS IMPORTANT –
IF NOT MORE THAN THE ACTUAL PRODUCER PRICE ITSELF – AS IT HAS BEEN
DEMONSTRATED THAT GOOD YIELDING FARMERS CAN MAKE A POSTIVE RETURN
FROM
THEIR
CROPS
WITH
GOOD
AGRICULTURAL
PRACTICES
WHICH
WILLRESULTIN HIGHER YIELDS.
IN ZAMBIA, WE SHOULD ENDEAVOUR TO IMPROVE COTTON PRODUCTIVITY
LEVELS
FROM
1,000KG/HECTARE.
THE
CURRENT
AVERAGES
EVEN
INCREASING
OF
450KG/HECTARETO
THIS
YIELD
TO
700KG/HECTAREWOULDSIGNIFICANTLY ENHANCE NET EARNINGS OF OUR
FARMERS WHILE THE COST OF INPUTS WILL REMAIN MORE OR LESS THE SAME.
MR CHAIRMAN, DISTINGUISHED GUESTS, STAKEHOLDERS IN THE COTTON
INDUSTRY WERE PLEASED TO NOTE THAT THE NATIONAL COTTON PRODUCTION
REACHED IT’“ ALL TIME HIGH RECORD OF 7 ,
METRIC TONNE“ IN
/
SEASON. THE NUMBER OF FARMERS INVOLVED IN COTTON PRODUCTION ALSO
INCREASED TO MORE THAN 450,000. WITH IMPROVED PRODUCTIVITY MORE CAN
BE ACHIEVED.
Workshop on Seed Cotton Price Setting Models
Page 18
I AM AWARE THAT THE GINNERS BUY THE SEED COTTON DIRECTLY FROM THE
FARMERS AND PAY THE FARMER ALMOST IMMEDIATELY, AT FARM GATE- AFTER
RECOVERING THE INPUT LOAN.
I AM RELIABLY INFORMED THAT 99% OF THE LINT IS EXPORTED TO
INTERNATIONAL MARKETSWHILE A SMALL QUANTITY OF THE SEED COMPONENT
IS RETAINED AS PLANTING SEED AND THE RESTIS SOLD TO LOCAL OIL CRUSHING
MILLS AND THE SURPLUS EXPORTED INTO REGIONAL MARKETS.THERE IS
THEREFORE NEED TO ADD VALUE TO OUR LINT.
MR. CHAIRMAN, I AM NOT HERE TO PRE-EMPT THE PRESENTATION TO BE MADE
BY THE EXPERT IN COTTON PRICE SETTING MODELS BUT I AM MERELY TRYING TO
CARRY OUT A SIMPLE COTTON VALUE CHAIN ANALYSIS.
THE LIBERALI)ATION OF THE ECONOMY IN THE COUNTRY IN THE MID 99 ’s
BROUGHT ABOUTSOME GAINS AND SOME CHALLENGES IN DIFFERENT SECTORS
OF THE ECONOMY. THE COTTON VALUE CHAIN WAS NOT SPAREDIN THAT MANY
NEW GINNERSHAVE SINCE COME INTO THE SECTOR, INCREASING COMPETITION,
BUT ALSO THE ISSUE OF SIDE BUYING OF CROP PRE-FINANCED BY OTHERS. THIS
PRACTICE, IF NOT CONTROLLED COULD LEAD TO GINNERS REDUCING THEIR
INPUT FINANCING, WHICH WOULD BE DETRIMENTAL TO THE INDUSTRY.
MR CHAIRMAN, DISTINGUISHED GUESTS, THE TEXTILE SECTOR IN ZAMBIA HAS
COLLAPSED. THIS IS DUE TO, AMONGOTHERS, COMPETITION FROM ADVANCED
TECHNOLOGIESAND IMPORTS OF SECOND HAND CLOTHES.THE RISING NUMBER
OF MORE EFFICIENT AND HUGE TEXTILE PLANTS IN THE FAR EAST HAS ALSO
IMPACTED NEGATIVELY ON TEXTILE INDUSTRY IN THE REGION – LEADING TO
Workshop on Seed Cotton Price Setting Models
Page 19
CLOSURE OF A NUMBER OF SPINNING PLANTS. THIS LIMITATION IN THE VALUE
CHAIN IS UNFORTUNATE AND SOMETHING THAT GOVERNMENT IS LOOKING
INTO. CURRENTLY, VIRTUALLY ALL ZAMBIAN LINT IS SOLD TO INTERNATIONAL
MARKETS AT PRICES DETERMINED BY WORLD MARKETS WITHOUT ADDING
VALUE TO THE LINT DUE TO A TOTAL COLLAPSE OF THE TEXTILE INDUSTRY.
I AM AWARE THAT MARKETDATA– SUCH AS THE COTLOOK INDEX AND NEW YORK
FUTURES MARKETS ARE USED WHEN ARRIVING AT A PRODUCER PRICE JUST
PRIOR TO HARVEST TIME – BEING THE ONLY REAL INDICATORS OF REALISABLE
MARKET PRICES OF COTTON LINT. I APPRECIATE THAT IT IS NOT EASY TO PREDICT
FUTURE PRICES – BUT AT LEAST INDICATIVE INFORMATION IS WHAT THE FARMER
REALLY NEEDS WHEN CONSIDERING HIS PLANTING OPTIONS. I WISH TO APPEAL
TO THE COTTON ASSOCIATION OF ZAMBIA WORKING IN COLLABORATION WITH
THE AGRICULTURAL MARKETING INFORMATION CENTRE (AMIC) IN THE
DEPARTMENT OF AGRI-BUSINESS AND MARKETING TO ENSURE THAT SUCH
INFORMATION IS AVAILED TO OUR FARMERS BEFORE THE COMMENCEMENT OF
THE COTTON PLANTING SEASON.
MR
CHAIRMAN,
PLEASE
ALLOW
ME
TO
ASSURE
THE
AUDIENCE
THATGOVERNMENT IS DETERMINED TO CREATE AN ENABLING ENVIRONMENT
WITH A PRIVATE SECTOR LED ECONOMY - BUT WE WILL NOT SIT IDLE AND LET
OUR FARMERS BE CHEATED BY UNSCRUPULOUS TRADERS WHO OFFER
UNREALISTIC PRICES FOR THEIR PRODUCTS.
I FULLY AGREE WITH THE THEME OF THI“ WORK“HOP WHICH I“ OF CREATING A
CONDUCIVE COOPERATION WITHIN THE COTTON INDU“TRY A“ I BELIEVE THAT
IF WE ACHIEVE THIS COOPERATION AS A COUNTRY, WE STAND TO BENEFIT
Workshop on Seed Cotton Price Setting Models
Page 20
THROUGH THE INCREASED COTTON PRODUCTION THEREBY CREATING WEALTH
AMONG THE SMALLHOLDER FARMERS IN THE COUNTRY.
FINALLY, I WOULD LIKE TO THANK THE COMPETITIVE AFRICAN COTTON
INITIATIVE (COMPACI), I UNDERSTAND THAT THE PROGRAM DOES NOT ONLY
LOOK AT EXTENTION – BUT IS ALSO ASSISTING IN THE FINANCING OF THE
NATIONAL COTTON DATABASE, LOOKING AT OPPORTUNITIES TO IMPROVE SEED
QUALITY AND HAVE AL“O BROUGHT IN THE CON“ULTANT TO TODAY’“
WORKSHOP ON SEED COTTON PRICE SETTING MODELS.
IT IS NOW MY PLEASURE TO OFFICIALLY DECLARE THIS WORKSHOP OPENED AND
WISH YOU SUCESSFUL DELIBERATIONS.
THANK YOU
Workshop on Seed Cotton Price Setting Models
Page 21
Expectations of participants:
Perspective on what works where and why
Fair understanding of Factors influencing producer price
Better cooperation among cotton stakeholders on cotton price fixing
Recommend Price setting models for )a
ia Far er’s/Gi
er’s osts should e
taken into account)
Establish what caused the price impasse in the cotton industry
Adopt/develop a competitive price model for seed pricing
Create a realistic price mechanism which is fair for the different parties and taking
in account prevailing situation and flexible to the world price dynamics
Need less government intervention in price setting in Zambia-private sector needs
to find solutions among themselves
Enhance trust among stakeholders
To kick start the process of developing an acceptable pricing mechanism (by the
industry)
To re ei e the o sulta t’s progra
for the
aseli e sur e leadi g to seed
cotton price setting model
Price setting models for other crops/commodities?
Workshop on Seed Cotton Price Setting Models
Page 22
COTTON SECTOR REGULATIONS AND
THE NEED FOR SEED COTTON PRICE
SETTING IN ZAMBIA
Stephen Kabwe and David Tschirley
Presentation at the CBZ/COMPACI meeting on Seed Cotton Price
Setting Models
Golf View Hotel Lusaka
9th April, 2013
INDABA AGRICULTURAL POLICY RESEARCH INSTITUTE
Indaba Agricultural Policy Research Institute
Outline
1
 Overview of Zambia’s Cotton Sector
 Boom followed by crisis
 Linking cotton sector performance to sector type
 Competition – coordination trade off
 Linking regulatory approaches to sector type
 Cotton Act
 CCP
 Way forward
Indaba Agricultural Policy Research Institute
2
Overview
Indaba Agricultural Policy Research Institute
Zambia’s cotton sector success story
3
 After reforms in late 1994, production rose from
32,000Mt to about 250,000 Mt last year
 Source of cash income for over 200,000 farm
families
 A Source of FOREX for the economy
 Lint on international market receives premium
because of its high quality
 Mainly supported by the private companies
Indaba Agricultural Policy Research Institute
Booms and busts …
4
Concentrated
Semi-competitive
Privatization
Seed cotton prod in MT
300,000
250,000
200,000
Post-Reform
Boom
(Private sector
success story)
1st Crash
(Credit
default)
2nd
Second Boom
(Private innovation, Crash
(Macrorising gov’t
economics
involvement,
+ credit
increased private
default
sector entry
Ambiguous period
3rd
Crash
(Credit
default)
150,000
100,000
50,000
0
Year
Indaba Agricultural Policy Research Institute
Booms and busts …
5
 Before and during the 1st crash
 No regulations but purely private sector
coordination
 Increased ginning companies and rampant issues of
side selling/credit default
 2nd and 3rd crashes
 Cotton Act but disputes between farmers and
ginners over price
 The sector lacked price setting mechanism
Indaba Agricultural Policy Research Institute
… driven by price
300,000
3000
250,000
2500
200,000
2000
150,000
1500
100,000
1000
50,000
500
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
0
1997
0
Harvest Year
Current year's production
Last year's
price Institute
Indaba Agricultural
Policy Research
Seed
in MT
kg
Seedcotton
cottonproduction
prodtion in
3500
1996
seed cotton price in ZMK
6
… driven by price
7
3000
250,000
Correlation 1996-2012 = 0.78; High!
2500
200,000
2000
150,000
1500
100,000
1000
50,000
500
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
0
1997
0
Harvest Year
Current year's production
Last Policy
year'sResearch
price Institute
Indaba Agricultural
Seedcotton
cottonproduction
prodtion in
Seed
in MT
kg
300,000
1996
seed cotton price in ZMK
3500
… driven by price
8
3000
250,000
2500
200,000
2000
150,000
1500
100,000
1000
50,000
500
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
0
1997
0
Harvest Year
Current year's production
Last Policy
year'sResearch
price Institute
Indaba Agricultural
Seedcotton
cottonproduction
prodtion in
Seed
in MT
kg
300,000
Much lower price last year.
Will production plummet?
1996
seed cotton price in ZMK
3500
9
Linking sector performance
to sector type
Indaba Agricultural Policy Research Institute
Sector types
10
 National monopoly
 Regional monopoly
 Concentrated, market-based
 Competitively structured
Indaba Agricultural Policy Research Institute
Sector types
11
 National monopoly
 Regional monopoly
 Concentrated, market-based
 Competitively structured
Indaba Agricultural Policy Research Institute
Competition-coordination trade-off
12
 Sectors with few buyers (“concentrated”, e.g.
Zambia, Zimbabwe) offer:
 More input credit and ext service  better yields
 High quality  high price premium on world markets
 Lower prices than competitive sectors
 Sectors with many buyers (“competitive”, e.g.
Tanzania)
 No input credit and no ext service  low yields
 Low quality of lint
 Higher prices to farmers
Indaba Agricultural Policy Research Institute
13
 Competitively structured cotton sectors are not
inherently superior to concentrated sectors
Indaba Agricultural Policy Research Institute
14
Linking regulatory
approach to sector type
Indaba Agricultural Policy Research Institute
What do we mean by regulation?
15
• Any formalized set of incentives and sanctions
meant to influence behavior of participants in a
particular direction “Rules of the game”
• Could be public, private, or a mix of the two
• Regulations could be effected at different stages:
•
•
•
•
registration requirements,
information sharing
requirements export permits,
quality standards,
Indaba Agricultural Policy Research Institute
Regulatory Objectives
16
 Achieving coordination between sector stakeholders,
so as to ensure:
 the provision of inputs to smallholder producers
 the maintenance of lint quality
 Ensuring that a win-win price for the ginners and
farmers for their seed cotton
 either through market competition or some form of
competition substitute
 the “competition policy” function of regulation
Indaba Agricultural Policy Research Institute
Cotton Act in Zambia
17
 Formed because of the challenges faced by the Sector
 Allowed the creation of CBZ
 Regulate production, processing and marketing of cotton
 Advise government on regulations and policies related to
the sector
 Monitor and report on implementation of policies and
matters related to the sector
 Carry out such activities as are necessary….
 Lack of price setting mechanism in the Act
Indaba Agricultural Policy Research Institute
Competition and Consumer Protection
18
 Anti-trust focus could be counter-productive
given reality of credit and input market failure

“unjustifiable exclusion from a trade association”
… but sector needs modest trade barriers
 to
enforce proper conduct in input distribution and
buying


Prohibits “making recommendations (regarding)
price” … but this may be needed
 to
avoid side-selling which can destroy the sector
May prohibit mergers … but sector is dynamic
Indaba Agricultural Policy Research Institute
Way forward [1]
 Acknowledge that there are market failures in these
19
cotton sector types ...... hence the need some level of
regulations
 Cotton Board of Zambia
 Importance of licensing rules that specify capabilities and conduct
of firms wishing to participate in the sector
o Must be allowed but be transparent and enforceable
 Pricing
o Cannot separate price from side selling
o Need a price-setting mechanism that is more formalized and
transparent that can generate a win-win indicative price to
reduce the price disputes between farmers and ginners
Indaba Agricultural Policy Research Institute
Way forward [2]
20
 CCP needs to focus on outcomes rather than processes:

“Are cotton companies paying competitive prices to
farmers?”, NOT
 “Are companies engaging in collusive practices?”
 All should point to
 Enhancing productivity at farm and ginnery levels
 Key for a sustainable cotton sector
Indaba Agricultural Policy Research Institute
21
Thank You
INDABA AGRICULTURAL POLICY RESEARCH INSTITUTE
Indaba Agricultural Policy Research Institute
Cotton Pricing Systems in Africa
Gérald Estur
Cotton Stakeholders Workshop
Lusaka, Zambia, 9 April 2013
Outline
• Overview of Pricing Systems
• Constraints and Challenges
• Objectives and Principles
• Outlook for Cotton Prices
• Zambia in Perspective
• Conclusions et Recommendations
Overview of Pricing Systems
Pricing Systems
• Producer price are directly or indirectly linked to
international cotton prices in most countries.
• Producers sell lint in countries where cotton is
harvested mechanically.
• Producers sell seed cotton in countries where cotton
is handpicked.
• Cotton prices and/or revenues benefit from some
form of direct or indirect support/subsidy in almost all
producing countries.
Pricing Mechanisms
• Market price or administered?
• Price set by: government, ginners, cotton board /
interprofession, producers? officially homologated ?
• Negotiated or calculated?
• Pricing formula taking into account
producer costs?
ginner costs?
• Producer price based on percentage of world price?
• Price set: before planting, before marketing, at purchase,
pluri-annually?
• Indicative or minimum guaranteed price?
Pricing Mechanisms
• Pan-territorial (national, regional, ginnery)?
• Price set at: farm gate, collection point, ginnery gate?
• Quality differentials?
• Pan-seasonal? Fixed or revisable (during or at the end
of marketing season)?
• Price paid cash or after delivery? Advance payment?
• Price support or stabilization fund?
Pricing Mechanisms
• Price-setting mechanisms in Africa depend on the
cotton sector structure, and mainly on the degree of
competition between ginners.
• Ginners must have secure supply of seed cotton to be
able to guarantee producer price prior to plantings
(marketing monopoly, concessions, contract farming).
• In competitive sectors, producers are more exposed to
market price fluctuations.
Pricing Mechanisms
• WCA countries:
Pan-seasonal, pan-territorial minimum guaranteed preplanting price based on price projections.
Producer price is a percentage of international price.
Final price based on actual average price (in countries
with price support fund).
Higher price risk for ginners.
• ESA countries:
Price fixed before marketing based on international
price projection minus costs.
Increased price risk for producers, and more
fluctuations in production.
Impact of Volatility
• ESA Countries
World price
100
50
150
Ginner (cost + margin)
40
40
40
Producer (residual)
60
10
110
World price
100
50
150
Producer (60%-share)
60
30
90
Ginner (40%-share)
40
20
60
• WCA Countries
Pricing Systems
• Fixed pre-planting price:
Benin, Chad, Côte d’Ivoire, Senegal
• Pre-planting price + eventual top-up payment at the end
of season: Togo, Ghana
• Price support fund: Mali
• Price smoothing fund: Burkina Faso , Cameroon
• Marketing floor price based on formula:
Kenya (before planting), Malawi, Mozambique, Tanzania,
Uganda, Zimbabwe
• No formula: Ethiopia, Nigeria, Zambia
Constraints and Challenges
International cotton prices are extremely volatile
Cotlook A Index (daily quotes; U.S. cents per pound CFR Far East)
250
225
200
175
150
125
100
75
50
25
Jan-00
Jan-02
Jan-04
Jan-06
Jan-08
Source: Cotton Outlook
Jan-10
Jan-12
Daily Prices –2010/2011 Crop
Cotlook A Index (US cents per pound CFR Far East)
250
225
200
175
150
125
100
75
janv-10
mars-10
juin-10
sept-10
déc-10
Source : Cotton Outlook
févr-11
mai-11
Daily Prices – 2011/2012 Crop
Cotlook A Index (US cents per lb CFR Far East)
175
150
125
100
75
janv-11
mars-11
juin-11
sept-11
déc-11
Source : Cotton Outlook
févr-12
mai-12
Cotton price projections are not reliable
Cotlook A Index season average forecast in Avril (US cents per pound)
170
160
150
140
130
120
110
100
90
80
70
60
50
40
Projection
Actual
90/91
93/94
96/97
99/00
02/03
05/06
Sources: ICAC, Cotton Outlook
08/09
11/12
No perfect reference for cotton prices
• Cotlook A Index based on quotations from merchants not
on actual prices of sales to spinners.
• Cotlook A Index has become less relevant for prices of
lint sold by ginners to merchants.
• ICE cotton futures market is not perfectly correlated with
international cotton prices for physical cotton (“basis”
fluctuations).
• There is no price reference for cotton seeds as they are
not traded internationally.
Basis Fluctuations
Cotlook A Index minus NY nearby futures (US cents per lb)
40
30
20
10
0
Jan-10
Jan-11
Jan-12
Sources: Cotton Outlook & ICE Futures U.S.
Jan-13
Constraints and Challenges
• Exchange rate are volatile (production costs in local
currency while lint is sold in dollars).
•
Estimates of production costs always contentious as
they vary from one stakeholder to the other, and from
one season to the next.
• The share of the reference price that can be allocated to
farmers is highly dependent on the world price and on
the level of production.
Exchange rates are volatile and unpredictable
Kwacha/Dollar (monthly averages)
6 000
5 500
5 000
4 500
4 000
3 500
3 000
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13
Source: Bank of Zambia
Constraints and Challenges
• Ginners needs cotton growers more than growers need
ginners: farmers have a choice between crops,
whereas a ginnery without cotton is worthless.
• “Competition is important to ensuring efficiency and
equitable sharing of benefits between farmers and
ginners. Yet, too much competition makes it difficult or
impossible to engage in the coordination needed to
provide important services such as quality control,
input credit, research, and extension.” (World Bank
study).
The Issue of Productivity
• Price is only one component of producer’s revenues.
• Low productivity translates into lower producer prices.
• Ginning outturn is a key factor.
The Issue of Quality
Cotton price depends on:
• Fiber properties (“fiber”)
• Contamination (“only fiber”)
• Reputation (“more than just fiber”): cotton trade is
based on the principle of the “sanctity of
contracts”.
African cotton is discounted due to the perceived
risks of contamination, despite the fact that handpicked cotton produces better lint.
Objectives and Principles
Objectives of Pricing Systems
• Contribute
to
improving
performance
competitiveness of the cotton sector.
• Increase transparency to build
cooperation between stakeholders.
trust
and
• Mitigate risks of intra-seasonal price volatility.
• Reduce inter-seasonal price volatility.
and
foster
Principles of Pricing Systems
• Fair allocation of revenues and risks between producers
and ginners.
• Producer price determined on the basis of the operating
costs of efficient ginners, otherwise ginners’
inefficiencies would be passed on to producers.
• Domestic lint competitive with price and quality of
imported lint.
Price-setting Best Practices
• Simple and transparent formula: producer price
calculated as a fixed percentage of lint and seeds sales,
based on easily accessible and verifiable references.
• Flexibility within the season, allowing for adaption to
volatile world prices: price to be revised periodically.
• Minimum support price.
Outlook for Cotton Prices
World production exceeding consumption
Million tons of lint
Production
27
25
23
Mill Use
21
19
00/01
02/03
04/05
06/07
Source: ICAC
08/09
10/11
12/13
World cotton stocks increasing
Million tons lint
18
16
China
Rest of World
14
12
10
8
6
4
2
0
00/01
02/03
04/05
06/07
Source: ICAC
08/09
10/11
12/13
Prices dropped but remain historically high
Cotlook A Index (monthly averages; ZMK/kg of lint CFR Far East)
25 000
22 500
20 000
17 500
15 000
12 500
10 000
7 500
5 000
2 500
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13
Sources:Cotton Outlook & Bank of Zambia
Daily Prices - 2012/2013 Crop
Cotlook A Index (US cts per lb CFR Far East)
100
95
90
85
80
75
mai-12
juil-12
oct-12
Source: Cotton Outlook
janv-13
Zambia in Perspective
Zambia in Africa
2011/12
Population
1. 3%
Cotton area
10.7%
Yield (lint/ha)
59% of African average
Production of lint
7.0%
Exports of lint
5.0%
Mill use of lint
0%
Source: ICAC
Cotton Production Fluctuates Widely
Thousand tons seed cotton
125
100
75
50
25
0
00/01
02/03
04/05
06/07
Source: ICAC
08/09
10/11
Yield is lower than African average
Kilogram of lint per hectare
750
World
500
Africa
250
Zambia
0
2000
2002
2004
2006
Source: ICAC
2008
2010
Ginning Outturn
%
44
42
40
38
36
34
32
KEN
UG
TZ
MAL
MOZ
ZAM
Compiled by consultant from various sources
ZIM
WCA
The ginning sector is competitive
2010/11
Tanzania
Kenya
Malawi
Moz
Uganda
Zambia
Zim
75,000
4,000
22,000
26,000
27,000
57,000
103,000
Ginners
37
12
8
9
29
9
12
t/ginner
2,000
325
2,750
2,900
925
6,000
8,600
t lint
(Compiled by consultant from various sources)
Parameters for 2013
•
•
•
•
•
•
•
•
•
•
•
Cotllook A Index (04/04/13):
95.70 cts/lb
Quotation for Zambian SM 1-1/8” (idem):
99.25 cts/lb
December futures price (04/03/13):
88.24 cts/lb
Exchange rate (04/04/13):
5,390 ZKW/USD
Differential from CFR to FOB:
4 cts/lb
Differential from FOT gin to FOB:
? cts/lb
Sales price of seeds:
? ZKW/kg
Ginning outturn:
?%
Farmer cost of production:
? ZKW/kg seed cotton
Ginner costs from farmgate to FOT gin:
? ZKW/kg lint
Average ginner’s margin:
X% of total sales
Conclusions
• There is no silver bullett for designing a price-setting
system.
• Pricing systems based on averages fail to cope with
high volatility.
• Crucial need to have consensus between producers
and ginners.
• Seedcotton price must be linked to world price of lint.
• Seedcotton price is just one component of producers’
revenues: increasing productivity of producers and
ginners stands out as the top priority for improving the
competitiveness and profitability of cotton production in
Africa.
Merci pour votre attention !
Attendance
No Name
Company
Position
Telephone number
Email-address
1 Phiri Masuzyo Janet
Student
0977323958
[email protected]
2 Gerald Estur
Consultant
0033982499394
[email protected]
Wolfgang
3 Bertenbreiter
GIZ
Project-Director
002609665110093
[email protected]
4 Jesse Kitta
Yustina& oil Cotton
CC
MD
00265991460315
[email protected]
5 Dan Du
AST
MD
00260969766628
[email protected]
6 Bourne Chooka
ZCGA
Executive Secretary
0978670016
[email protected]
7 Patrick Nyumbu
AGDC
Agricultural Manager
0977822506
[email protected]
8 George Sampa
CBZ
Cotton Inspector
0977763884
[email protected]
9 Mwansa Chalwe
CBZ
Accountant
0962419531
[email protected]
10 Charles Hayward
DZL
Agricultural Services
0977888054
[email protected]
Signature
11 Ivan Stubbs
ZNFU
T.A.
0966879833
[email protected]
12 Michael Banda
CAZ
Vice Chairman
0979751701
[email protected]
13 Hasimuna Keith
CAZ
Cotton Rep
0967403696
14 Molly Hachilala
CAZ
Cotton Rep
0979849132
15 Stephen Kabwe
IAPRI
Outreach Director
0955335928
[email protected]
16 MA
CAC
VGM
097632009
[email protected]
17 Ireen Chipindi
CAC
Asst. Adm
0979213598
[email protected]
18 Komani Ngambi
CAZ
Cotton Rep
0977808942
[email protected]
19 Mweetwa C
CAZ
Chair Person
0977661125
[email protected]
20 Dube P.
IAPRI
Intern
21 Lwisya Silwimba
CBT
A/ Director
0965871628
[email protected]
22 Dafulin Kaonga
CBZ
Board Secretary
0976047682
[email protected]
[email protected]
23
Danford Simusika
CAZ
EBDO
0977319976
[email protected]
GIZ
Junior Advisor
0973713580
[email protected]
25 Zombe Sikazwa
SEC I
Seeds officer
(Training)
0977465991
[email protected]
26 Moses Musantu
Competition&
Consumer Protection
Commission
Senior Economist
222787
[email protected]/
[email protected]
27 Sydney Mwamba
Seed control and
certification Institute
Seed Officer
28 Julius P. Daka
ZEMA
Manager Planning&
Information
0976389610
[email protected]
29 Anayawa Mutemwa
Ministy of Agriculture
and Livestock
Princicpal Economist
0979-257495
[email protected]
30 Rudy van Gent
COMPACI
Consultant
0977-784779
[email protected]
31 Emmanuel Mbewe
Cargill Zambia
Project Manager
0965811208
[email protected]
32 Peter Raubenheimer
Cargill RSA
Cotton Lead
0833908661
[email protected]
33 Nigel Seabrook
Dunavant
CEO
0977650065
[email protected]
34 Munir Zaveri
Alliance
MD
0974280122
[email protected]
24 Daniela Broker
[email protected]
35 Dr. W.Mwale
CBZ
Chairman
0966780497
[email protected]
36 Cosmore Mwaanga
MAL
CPA
0955211735
[email protected]
37 Tudy Nkonkomalimba
CBZ
Office Manager
0955999034
[email protected]
38 Georgina Smith
CBZ
COMM S.
39 Piyush Goyal
CGL
BM
0260978063560
[email protected]
40 R.K. Bashak
GRAFAX
OD
0260963808402
[email protected]
41 Mary Mchipuli
MAL/AGRIC
Director
0260211252029
[email protected]
42 Hans Yamba
MCTI
Economist
0969993895
226954
[email protected]
43 Catherine Mungoma
MAL
Director
278236
[email protected]
[email protected]