The Cotton Corporation of India (CCI) is likely to buy more than 100 lakh bales of cotton at Minimum Support Price (MSP) during the current cotton year that will end on September 30, 2025.
Lalit Kumar Gupta, Chairman and Managing Director of the CCI, told The Hindu that it has purchased close to 88 lakh bales since the beginning of the cotton season on October 1, 2024 and will continue to be active in the market.
The daily arrivals used to be about 2.5 lakh bales and this has reduced to almost 1.75 lakh bales now. In Maharashtra and Gujarat, only 55%-60 % of the cotton produced has come to the market. In Andhra Pradesh and Telangana, the arrivals are almost over, he said.
According to Mr. Gupta, of the total arrivals, the CCI is buying almost 60,000 bales.
The Committee on Cotton Production and Consumption had estimated total production this year to be 300 lakh bales and of this, 210 lakh bales have come into the market.
International cotton prices improved on Monday and Tuesday and the CCI is likely to decide in a week or so how it will be liquidate the cotton stocks with it.
Published - February 11, 2025 09:19 pm IST
