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Indian govt hikes support price for 2014-15 cotton crop
Jun '14
The Cabinet Committee on Economic Affairs, Government of India, on the recommendations of Commission for Agricultural Costs and Prices (CACP), has approved the new Minimum Support Price (MSPs) for Kharif cotton crop for 2014-15 season.
For medium staple cotton, the MSP for 2014-15 crop will be Rs. 3,750 per quintal, an increase of Rs. 50 over 2013-14’s MSP of Rs. 3,700 per quintal.
Similarly, for long staple cotton, the MSP for 2014-15 crop has been increased by Rs. 50 to Rs. 4,050 per quintal, according to an official statement.
The new MSPs would be effective from October 1, 2014 and would increase investment and production through assured remunerative prices to farmers.
Over the five-year period from 2010-11 to 2014-15, the MSP for medium staple cotton (called kapas short) has risen by 50 percent. The MSP was Rs. 2,500 per quintal in 2010-11, which increased to Rs. 2,800 in 2011-12, Rs. 3,600 in 2012-13, Rs. 3,700 in 2013-14 and Rs. 3,750 in 2014-15.
On the other hand, the MSP of long staple cotton (kapas long) has increased by 35 percent over the last five years. The MSP was Rs. 3,000 per quintal in 2010-11, which was raised to Rs. 3,300 in 2011-12, Rs. 3,900 in 2012-13, Rs. 4,000 in 2013-14 and Rs. 4,050 in 2014-15.

Fibre2fashion News Desk - India

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