Government's cotton procurement gaining pace

AHMEDABADL Cotton procurement by various government agencies gains momentum in Andhra Pradesh, Maharashtra and Karnataka as farmers begin to bring cotton to mandis.

The Cotton Corporation of India (CCI) has procured 12.5 lakh bales of cotton (a bale weighs 170 kg) whereas the National Agricultural Cooperative Marketing Federation of India ( Nafed) has purchased 1.5 lakh bales till January 1 through its procurement centres across the country at the minimum support price (MSP).

The sale of the cotton procured by CCI is under the consideration of the Union textiles ministry. According to sources, over 1.5 lakh bales will be sold under the first lot, which is likely to be announced soon. Nafed is also looking at the current scenario.