Gujarat Government has decided to purchase cotton at minimum support prices (MSP) with the expectations of cotton flooding due to 24-lakh hectares cotton cultivated land, a record in its own way.
Traders have bought around 5,000 quintals of cotton last week and MSP is Rs2, 135 in agricultural markets in Saurashtra. Agriculture Ministry has decided to keep a close watch on the situation.
State Government is going to set up 88 centres for buying cotton from the farmers at MSP in case there is excess cotton supply in the market. Cotton Corporation of India (CCI) is already buying cotton at market rates from the region.
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