Telangana, Punjab and Odisha are three leading States that have received utmost rewards of cotton procurement by the Cotton Corporation of India (CCI) in the course of the latest time 2020-21 (October one, 2020 to September 30, 2021).
CCI has procured 55 for every cent of the cotton procured in Telangana followed by 45 for every cent in Punjab and 44 for every cent in Odisha. CCI has procured 90.87 lakh bales (24.forty nine % of the complete creation) less than Minimum amount Assistance Rate (MSP) functions.
In accordance to the knowledge introduced by the Ministry of Textile in Lok Sabha past week CCI Telangana generated sixty lakh bales of which 33.33 lakh bales were being procured less than MSP functions. Punjab and Odisha procured twelve lakh bales and four.5 lakh bales respectively of which 5.38 lakh bales and one.98 lakh bales were being procured.
Gujarat is the highest cotton producer State with the creation of 90.5 lakh bales. CCI procured four.05 lakh bales( four.48%) from Gujarat. Maharashtra, the 2nd-highest producer, generated 86 lakh bales of which 17.45 lakh bales (20.29%) were being procured.
In accordance to the Ministry, the CCI has not stopped the purchase of cotton at MSP. “Further due to significant boost in kapas costs in the course of the past three weeks, the ruling rate of kapas are more than MSP costs in most cotton-rising states and farmers are finding a improved rate for their develop from current market. For this reason, intervention is not presently necessary in these states. Nevertheless, CCI is procuring all around twenty five,000 to 30,000 bales for every day in the cotton-rising areas where ever the prevailing kapas prices are ruling below MSP” the Ministry informed the Lok Sabha.
The Ministry added that India is a internet cotton surplus region wherein creation is more than its use. As there is enough availability of cotton in the region, the export of surplus out there cotton may not have an affect on the textile units in the region. Alternatively, it will aid the farmers to acquire a improved rate for their cotton.