State-run cotton buyer, Cotton Corporation of India (CCI) could buy as much as 10 million bales from farmers inside the 2019/20 season to guide charges amid an expected sharp increase in production, stated a top authentic of CCI.
That could be nearly 10 instances CCI’s cotton purchases inside the 2018/19 season, which ends on Sept. 30.
“We have made infrastructure prepared for procurement. Buying can be round 10 million bales,” P. Alli Rani, chairman of CCI advised Reuters.
CCI buys cotton from farmers on every occasion charges fall underneath the minimum shopping for price set by the government.
Prices are above the MSP at Rs 5,900 according to quintal in north India, wherein clean crop has started out arriving.
The MSP of cotton for the 2019-20 season is Rs 5,550 according to quintal as in opposition to Rs five,450 according to quintal in the preceding year.
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