Home / Knowledge / News / Textiles / CCI to procure Rs 12,000 crore worth cotton this season
CCI to procure Rs 12,000 crore worth cotton this season
27
Nov '14
Following the continuing fall in cotton prices and prices slipping below the minimum support price (MSP) of the government, Indian state-owned Cotton Corporation of India (CCI) will procure cotton worth Rs 12,000 crore this season.

CCI which currently has an inventory of 800,000 bales (of 170 kg each) of cotton is expected to purchase 6 million bales from states like Maharashtra, Andhra Pradesh, Telangana and Gujarat.

“Funds would be garnered from a consortium of 14 banks led by Bank of Baroda, BK Mishra, CMD at CCI said, while speaking at a cotton conference in Mumbai and added that till date CCI has bought 800,000 bales of cotton.

For the 2014-15 season, the government has fixed an MSP of Rs 3,750 per quintal for medium staple cotton and Rs 4,050 for long staple cotton and current market prices of cotton have gone down below the MSP.

Depending on market conditions, CCI plans to offload cotton inventory over the next 15 months and going by current price trends and future forecasts, Mishra does not expect the state cotton buyer to export the white gold this season.

Led by a marginal decline in production in Gujarat, Cotton Association of India (CAI) has estimated India’s 2014-15 season cotton output at 40.55 million as against 40.72 bales in the 2013-14 season, however will be larger than that of China, which for years has been the topmost cotton producer. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Jun 2021

US-PRC trade war jolts cost global value chains 3-5 yrs of growth: UN

Trade shocks induced by the tariff battle between the United States...

Pic: Shutterstock

Apparel/Garments | On 24th Jun 2021

Argentina hopes to upgrade ties with Vietnam to strategic partnership

Argentina's new ambassador to Vietnam Luis Pablo Maria Beltramino has ...

Pic: JHVEPhoto / Shutterstock.com

Fashion | On 23rd Jun 2021

PVH Corp to sell Van Heusen, Arrow brand trademarks to ABG

US’ clothing firm PVH Corp has entered into a definitive agreement to ...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

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

Leave your Comments


June 2021

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


Advanced Search