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CCI to continue cotton procurement at MSP from farmers

Thu Mar 19 2020

 

Cotton procurement in India at the minimum support price (MSP) will continue, the Cotton Corporation of India (CCI) said recently. While some industry representatives said farmers are still holding on to their crops seeking better prices and also due to directives issued by district collectors to avoid crowds, CCI denied having received any such directive.

 

Chairman and managing director P Alli Rani said as long as the Agriculture Produce Market Committees (APMCs) run, CCI will continue to purchase cotton from farmers. It has purchased some 80 lakh bales till now.

 

Most APMCs in Maharashtra are still running normally since they are located in rural areas and the coronavirus impact is largely being seen in urban areas so far.

 

Atul Ganatra, president, Cotton Association of India (CAI), said around three-fifths of the cotton has already arrived in the market. Daily arrivals are to the tune of 1.30 lakh bales and the arrivals are gradually reducing. Farmers who have around 30 per cent of the produce are holding onto their crops seeking better returns, he was quoted as saying by an Indian newspaper.

 

Cotton exports from the country are still good, he said, adding that nearly 30 lakh bales have been exported to various countries so far of which half has been to Bangladesh, which has been the biggest buyer this season.

 

Source: https://www.fibre2fashion.com/

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