Home Business CCI to procure cotton worth Rs.35,000 crore

CCI to procure cotton worth Rs.35,000 crore

by BQ News Bureau
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The Cotton Corporation of India has opened 430 procurement centres in 135 districts of 12 cotton-growing States. The value of MSP procurement is expected to be Rs. 35,000 crore.

Textile Secretary Ravi Capoor said that in 2019-20, the area under cotton cultivation was 133.74 lakh hectares and cotton production was at 357 lakh bales. The CCI procured 105.14 lakh bales in 12 States, valuing Rs.28,500 crore. Post-global pandemic (April to September 2020), CCI procured 20.71 lakh bales, valuing Rs.5615 crore.

In 2020-21, the area under cotton cultivation is estimated at 133 lakh hectares and cotton production is expected to be 360 lakh bales. CCI has been geared up fully for smooth conduct of MSP operations. CCI has opened 430 procurement centres in 135 districts of 12 cotton-growing States and it will undertake MSP operations till last arrivals of all FAQ grade kapas from farmers without quantity restrictions.

Till October 6, 3.12 lakh bales have arrived in the market. CCI could procure 2,311 bales in Haryana, Punjab and Rajasthan as against nil procurement in the corresponding period of last year. The value of MSP procurement is expected to be Rs. 35,000 crores.

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