Malawi: Cotton farmers happy at high prices

The International Cotton Advisory Committee (ICAC) announced in early March that world cotton prices had reached a new record of two dollars per pound (0.5 kg) in February. ICAC is a global body representing governments, which raises awareness and promotes cooperative action on issues of cotton worldwide. In Malawi, farmers are happy about the news, reports Inter Press Services. Malawi’s economy is highly dependent on agriculture, with cotton contributing about 32 million dollars in foreign exchange earnings.