The presidential decree “On measures for the wide application of market principles in the cotton sector” has been adopted.

Photo: KUN.UZ

According to Rewiev.uz, the document provides for ensuring the implementation of the presidential decree “On approval of the agriculture development strategy of Uzbekistan in 2020-2030”, signed on October 23, 2019, the step-by-step decrease in the volume of state order, the introduction of free-market principles in the production and sale of raw cotton, increasing the interest of farmers and broad attraction of investments into the agricultural sector.

It is noted that measures will be taken to liquidate Uzpaxtasanoat JSC. Based on the global market price analysis, each year until December 1, the expected price indices for next year’s crop will be announced, and quarterly adjustments will be made to this price based on the volatility of market prices.