The Cotton Corporation of India (CCI) has procured a record 92 lakh bales from cotton growing regions across the country .The total procurement by CCI is valued at around Rs 25,000 crore. CCI had purchased a record 90 lakh bales in the year 2008, which was again a national record, she said.
Of the total crop of 360 lakh bales, around 297-300 lakh bales have arrived in the market so far. Farmers have another 60 lakh bales remaining with them of which 25 lakh bales are likely to arrive in the market. Of this, CCI is likely to procure around 10 lakh bales. Currently, CCI is procuring some 45000 bales a day.
The cotton procured so far has been purchased from farmers in Gujarat, Maharashtra, Haryana, Telangana and Punjab. The season in Tamil Nadu has just begun and will continue till September 30.
The minimum support price for the medium-staple variety of cotton is Rs 5,255 per quintal and that for the long staple one is Rs 5,550 per quintal this year. The Cotton Association of India has pegged 2019-20 crop at 354.5 lakh bales, compared with 312 lakh bales last year.
In Maharashtra, CCI is procuring about 15,000 bales a day. However, the state government has now threatened action against cotton ginners for keeping their units shut and not cooperating with the state cotton federation and the corporation. CCI had suspended cotton procurement during the lockdown and restarted operations from May 3.