Procurement of Cotton through Cotton Corporation of India (CCI) has extended to 8.Five lakh bales in the ongoing 2018-19 Cotton season from three.6 lakh bales at some stage in identical duration closing year as fees remained below the minimal guide fees (MSP) due to vulnerable worldwide expenses and coffee exports.
The Corporation expects procurement to the touch 15 lakh bales with the aid of the stop of the season.
The MSP for medium-staple type of Cotton is at Rs five,a hundred and fifty/quintal and that for lengthy staple at Rs five,450/quintal which can be kind of equivalent to Rs forty three,000-forty three,500 per candy (1 candy = 356 kg). The authorities had raised the MSP for Cotton by way of 26% this yr. Around fifty two% of the crop has already arrived within the marketplace.
A majority of the inventory were procured from Telangana and Maharashtra wherein farmers are now coming forward to sell to the CCI in preference to drawing near buyers. Cotton is also being offered from Madhya Pradesh, Karnataka and Odisha. Daily arrivals have been thirteen,000-16,000 bales.
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