CCI Assures Support to the Cotton producing Farmers
Date : December 21, 2012
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Agriculture Minister in Andhra Pradesh says cotton production in the State could reach the 70-lakh bale mark this year as oppose to 65 lakh bales last year. CCI had so far acquired 2,40,118 quintals, with Piduguralla recording the highest quantity of 99,199 quintals.
Farmers were guaranteed that they would be paid the minimum support price at the CCI centres and should not rely on distress sale thus relieving the Indian cotton manufacturers
The CCI ensured it would buy the cotton, even if the quality was defective in the November rains, and they shouldn't fear. As distress sales are appearing to be brewing, in view of the falling prices, the CCI issued advertisements in the local papers assuring farmers that it will remain in the market and acquire the crop.
Acording to the industry experts the CCI is ready to procure 50 per cent of the crop in the State and farmers need not worry. The CCI, however, was experiencing the difficulty of storage space in the ginning mills.The average price of cotton is Rs 3,700 a quintal in the open market.
prices are however expected to improve with the late arrivals, as the quality will improve. The sowing was postponed in Guntur district, particularly in the uplands. When the crop was ready for harvesting in the first week of November, Nilam cyclone struck, resulting in heavy rains and damage to the crop.