CCI Increases Cotton Purchases, Offers Price Support

28-Dec-2024 02:00 PM

CCI Increases Cotton Purchases, Offers Price Support
The Cotton Corporation of India (CCI) has made large-scale cotton purchases this season due to mandi prices falling below the Minimum Support Price (MSP).
30.98 lakh bales have been purchased so far, with most coming from Telangana.
After limited purchases over the last three years, the price drop this year has led to increased government support for farmers.
Significant purchases are also happening in Maharashtra, Andhra Pradesh, and Karnataka.
Total purchases are expected to range between 60 to 100 lakh bales.
Buying at MSP has led to a slight rise in cotton prices.