The Cotton Corporation of India (CCI) is yet to start procurement process despite directions from Textile Minister (I/C) Santosh Kumar Gangwar on October 1.
The Textile Minister has also instructed CCI Chairman & Managing Director B. K. Mishra to hold deliberations with Additional Chief Secretary (Development) to commence cotton procurement at earliest. As per reports, around 2 lakh bales have reached cotton markets in the Malwa region till date. Punjab Chief Minister Parkash Singh Badal has urged the Textile Ministry of India to relax the norms for cotton procurement in the wake of extensive damage to the cotton crop due to pest attack in the Malwa region.
AK Srivastava, General Manager, CCI averred that they are waiting for cotton prices to come down as private traders are offering more price than MSP. At present, cotton farmers are getting up to Rs. 4,500 per quintal from private traders, while the MSP is Rs. 4,100. The MSP for medium staple cotton is Rs. 3,800 per quintal and long staple is Rs. 4,100 per quintal. Shrivastava further added that against around 13 lakh bales production last season, the cotton production may go down by 40 per cent this year due to the whitefly attack.
Cotton Corporation of India or CCI is a Government of India agency, engaged in diverse activities related to trade, procurement, and export of cotton. CCI is a public sector agency responsible for equitable distribution of cotton among the different constituents of the industry and aid imports of cotton. Established in 1970 under Companies Act 1956, CCI is governed by Textile Policy 1985 issued by Ministry of Textiles, Government of India.