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Fall in cotton output may raise prices says Vaghela
21 Dec '05
1 min read
Addressing a press conference, Shankarsinh Vaghela, Union Textiles Minister, advised cotton farmers of Gujarat not to sell their stocks as cotton prices world over were expected to rise soon.
Farmers were also advised to reserve the stock as Cotton Corporation of India (CCI) has set up procurement centres at major marketing yards in cotton-growing regions of country to buy commodity at Minimum Support Price (MSP).
He also added that production of crop this year was expected to go down sharply the world over. Moreover, shortfall in China by about 25 lakh bales may prompt that country to import cotton from India.
Cotton production in India last year was 242.50 lakh bales and is forecast at about 243 lakh bales this year.
Farmers were also advised to reserve the stock as Cotton Corporation of India (CCI) has set up procurement centres at major marketing yards in cotton-growing regions of country to buy commodity at Minimum Support Price (MSP).
He also added that production of crop this year was expected to go down sharply the world over. Moreover, shortfall in China by about 25 lakh bales may prompt that country to import cotton from India.
Cotton production in India last year was 242.50 lakh bales and is forecast at about 243 lakh bales this year.
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