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Farmers demand hike in cotton MSP to offset drought impact
27 Aug '09
1 min read
Farmers in the state of Maharashtra are demanding an increase in the Minimum Support Price (MSP) of cotton and soyabeans, considering the drought situation in the state, which is expected to reduce production of both the cash crops.
Last year the Central Government had increased the MSP of cotton by about 25-40 percent depending on the variety of cotton, but open market prices remained below the new MSP in cotton markets of India for most parts of the year.
In the last cotton season, the two central agencies; Cotton Corporation of India (CCI) and NAFED had purchased around 1.66 million tons and 0.8 million tons, respectively from cotton farmers in Maharashtra.
Farmer bodies are demanding the hike in MSP to offset the loss in production due to the drought like situation prevailing over the state. According to them a 50 percent drop in output is expected in cotton, soyabeans and other grains.
Last year the Central Government had increased the MSP of cotton by about 25-40 percent depending on the variety of cotton, but open market prices remained below the new MSP in cotton markets of India for most parts of the year.
In the last cotton season, the two central agencies; Cotton Corporation of India (CCI) and NAFED had purchased around 1.66 million tons and 0.8 million tons, respectively from cotton farmers in Maharashtra.
Farmer bodies are demanding the hike in MSP to offset the loss in production due to the drought like situation prevailing over the state. According to them a 50 percent drop in output is expected in cotton, soyabeans and other grains.
Fibre2fashion News Desk - India
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