CCI to procure one million cotton bales from Gujarat | SupportBiz

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CCI to procure one million cotton bales from Gujarat

 
The Union Ministry of Textiles has directed the Cotton Corporation of India (CCI) to procure one million bales of cotton from the state of Gujarat, reports Business Standard. A rate of INR900 per 20kg of cotton has been fixed.

V Srinivas, Joint Secretary of the Cotton Division and the Technology Upgradation Fund Scheme (TUFS), Ministry of Textiles stated that most of this cotton will be procured from the Saurashtra region, as it produces good quality cotton in surplus quantities.

This move is being taken in the direction of creating a buffer stock of cotton for the textile industry. This was decided upon at a meeting of CCI officials and the Union Textiles Ministry held in Rajkot, Gujarat, on April 13.

The CCI started procuring cotton from March 31, 2012, and has gathered about 1,10,000 bales of cotton from Gujarat so far. Of this, nearly 57,000 bales were obtained from Rajkot and other areas of Saurashtra. Disagreements with farmers over prices and quality had led to a temporary suspension of the procurement activity.

Source: Business Standard