CCI to start cotton procurementat MSP from Oct 1 at 14 centres
BATHINDA, Oct. 1 -- The Cotton Corporation of India (CCI), a central agency, will start purchasing the produce on minimum support price (MSP) at 14 locations in five districts of the semi-arid region from Wednesday onwards. Bathinda and Muktsar will have a maximum of four centres each, with three in Mansa, while Fazilka will have centres. CCI will open one mandi in Barnala.
CCI only enters the market when the private buyers pay less than the MSP. According to the Punjab Mandi Board data, around 30,000 quintals of cotton had arrived across the south Malwa districts till Tuesday. Of the total arrival, 13,000 quintals has been purchased below MSP.
Stakeholders said that with the advent of the CCI, the cotton prices may stabilise as the farmers are being paid Rs.6,800-7,000 per quintal, which is Rs.1,000-1,200 per quintal, less than this season's MSP.
For the current rabi marketing season, the Centre has fixed Rs.7,710 per quintal for medium staple length and Rs.8,110 per quintal for the superior quality.
Officials of the state and CCI have attributed the lower rates for unginned cotton (raw crop that still contains seeds) and high moisture content.
Official sources said the 'Kapas Kisan' app, a new mobile application developed by the CCI, has been launched for transparent and seamless procurement of the cash crop. The CCI has extended the registration opportunity till October 31.
This year, cotton was sown on 1.19 lakh hectares, and the state agriculture department estimates the produce to be 2.80 lakh bales or 12.45 lakh quintals, said the CCI officials. However, Indian Cotton Association Limited (ICAL) president Mukul Tayal said, "As per our estimation, Punjab will produce 1.50 lakh bales or 6.67 quintals of cotton as the rains damaged prospects of a good yield."...
To read the full article or to get the complete feed from this publication, please
Contact Us.