Cotton Corporation of India ( CCI) has procured approximately 32.85 lakh bales of cotton at the minimum support price (MSP) during the 2023-24 marketing season.
The highest amount of cotton was procured by Telangana with around 24 lakh bales. States like Maharashtra, Andhra Pradesh and Madhya Pradesh also emerges as the major sourcing states.
Meanwhile, CCI’s procurement activites have declined since Feb’24 as open market prices have surpassed MSP levels. Prices are covering hovering around 7-8 per cent higher than MSP, compelling CCI to adjust its procurement strategy accordingly.
CCI has also specified the MSP for cotton seek with raw current raw cotton prices exceeding the set MSP. The corporation maintains a vigilant presence across markets, ready for intervention if necessary, amidst daily market arrivals and mill consumption.
With a significant focus onTelangana, CCI’s commendable procurement achievement underscores its adaptability to market dynamics.
