Govt to limit cotton procurement to 22-25 lakh bales
Updated: Nov 14, 2015 02:45:14pm
New Delhi, Nov 14 (KNN) The government will procure only 20-25 lakh bales at the support price this year, against 87 lakh bales last year, said CMD, Cotton Corporation of India (CCI), BK Mishra.
The officials claimed that the domestic prices are higher than the minimum support price (MSP) in many parts of the country, which means CCI will have to buy cotton at higher prices this year.
The corporation has so far purchased 3,000-4,000 bales in Telangana and Andhra Pradesh and procurement would continue in these two states.
Further, the corporation is planning to open over 300 centres across the country and will procure mainly in Telangana, Andhra Pradesh and partially in Maharashtra, he added.
He said the prices are lower in some states due to 35 lakh bales of surplus stocks and weak export demand. However prices are higher in north because of whitefly pest attack
Currently, the prices are the highest in Punjab at Rs 4,500 a quintal, while it is Rs 4,400 in Gujarat and Rs 4,200 in Maharashtra and Telangana.
CCI has opened 84 centres in Telangana and 25 centres in Andhra Pradesh and targets to set up a total 43 centres in AP and 50 centres in Maharashtra. It also planned to open around 300 procurement centres across India, mainly in the cotton belt comprising Telangana, Andhra Pradesh and Maharashtra. (KNN Bureau)
The officials claimed that the domestic prices are higher than the minimum support price (MSP) in many parts of the country, which means CCI will have to buy cotton at higher prices this year.
The corporation has so far purchased 3,000-4,000 bales in Telangana and Andhra Pradesh and procurement would continue in these two states.
Further, the corporation is planning to open over 300 centres across the country and will procure mainly in Telangana, Andhra Pradesh and partially in Maharashtra, he added.
He said the prices are lower in some states due to 35 lakh bales of surplus stocks and weak export demand. However prices are higher in north because of whitefly pest attack
Currently, the prices are the highest in Punjab at Rs 4,500 a quintal, while it is Rs 4,400 in Gujarat and Rs 4,200 in Maharashtra and Telangana.
CCI has opened 84 centres in Telangana and 25 centres in Andhra Pradesh and targets to set up a total 43 centres in AP and 50 centres in Maharashtra. It also planned to open around 300 procurement centres across India, mainly in the cotton belt comprising Telangana, Andhra Pradesh and Maharashtra. (KNN Bureau)
Loading...
