The Cotton Corporation of India (CCI) has acquired a record number of 92 lakh balls from coton-growing regions across the country. In the year 2008, CCI had bought a record 90 lakh bales, which was again a national record.
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.
CCI procures some 15,000 balls every day in Maharashtra. But now the state government has threatened cotton ginners with actions for closing their units and refusing to cooperate with the state cotton federation and the company. During the lockdown and restarted operations on May 3, CCI had suspended cotton procurement.
