Traders are therefore, not exporting cotton for lack of good margins in the global market and see better prospects in the domestic market, the CCI chief said.
Mishra also said that much of the Indian cotton has been exported to Pakistan, which stood at 2 million bales so far this year.
The CCI, which buys cotton from farmers when rates go below the support prices, said it has procured 8,40,000 bales so far this year.
With cotton prices rising, Mishra ruled out any more procurement. Of the total procured cotton, the CCI has already sold 3,75,000 bales and the rest of the stock will be disposed of in the coming months, he said. (SH)
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