Sale of Cotton Stocks by CCI

cotton-stocks-by-cci-indian-bureaucracy
cotton-stocks-by-cci-indian-bureaucracy

During cotton season 2015-16 (1st October, 2015 to 30th September, 2016), Cotton Corporation of India (CCI) purchased seed cotton (kapas) equivalent to 8.44 lakh bales at Minimum Support Price (MSP). The statement showing state-wise procurement under MSP during 2015-16 is given below.

State Procurement under MSP by CCI during Cotton Year 2015-16

(in bales)

Telangana 5,95,159
Maharashtra 1,16,799
Gujarat 51,501
Andhra Pradesh 39,967
Madhya Pradesh 29,104
Odisha 11,633
West Bengal 368
Total 8,44,531

During cotton season 2015-16, cotton prices in the country abnormally increased in the month of May/July 2016 due to damage by white fly pests in Northern region & pink boll worm attack in Gujarat region and panic buying by the mills to cover their lean season requirement. In such situation, in order to safeguard the interest of the textile Industry including Micro, Small and Medium Enterprises (MSMEs), Government of India, Ministry of Textiles decided in July, 2016 to sell the balance unsold stock available with CCI to MSME units through e-sale so as to provide them some relief from cotton price volatility in the market and stabilize the market prices. Accordingly, all the cotton stocks of CCI has been sold.

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