Home / Knowledge / News / Textiles / Cotton procurement by govt agencies declines
Cotton procurement by govt agencies declines
29
Dec '15
Procurement of cotton by government agencies like Cotton Corporation of India (CCI) and Maharashtra State Cooperative Cotton Growers Marketing Federation (MSCCGMF) has decreased after Gujarat government announced bonus of Rs 110 on the minimum support prices (MSP) of Rs 810 per 20 kg for farmers, according to media reports.
 
So far this season, CCI has bought about 6 lakh quintals and MSCCGMF has purchased around 2.5 lakh quintals of the crop. The announcement of bonus is attracting farmers from other states like Rajasthan, Madhya Pradesh, and Maharashtra to sell at higher prices in Gujarat.
 
The crop selling for Rs 4,100-4,200 per quintal is now selling for Rs 4,400-4,500 per quintal. Since the farmers are getting higher prices than the fixed MSP of Rs 4,100 per quintal, the procurement of the crop by government appointed bodies has decreased who refrain to purchase at high prices.
 
CCI has still not begun procurement of cotton in parts of Punjab where cotton has started arriving in the market and is fetching higher price of Rs 4,500-4,800 despite the white-fly attacks in the area. 
 
CCI and MSCCGMF are expected to begin procurement only when the prices of cotton fall below the MSP set by the Centre. (HO)
 

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search