21 centers were opened by Cotton Corporation of India for cotton procurement in Madhya Pradesh

13-Nov-2024 10:31 AM

21 centers were opened by Cotton Corporation of India for cotton procurement in Madhya Pradesh
The Cotton Corporation of India (CCI) has opened 21 procurement centers in Madhya Pradesh for the purchase of cotton, focusing on medium staple cotton at a Minimum Support Price (MSP) of ₹7,121 and large staple cotton at ₹7,521. However, as of now, procurement is ongoing at 11 of these centers.

Key Points:
Procurement Process and Standards:

The cotton procurement is being carried out with a moisture content of 8-12%, as per industry standards.
There was a higher moisture content in the cotton initially due to rainfall before the first plucking, but by the second plucking, the moisture level was more optimal due to drier weather conditions.
Procurement Centers in Madhya Pradesh:

Centers have been set up in key locations including Khamgaon, Dhamnod, Bikgaon, Barwah, and Khandwa.

Historical Context:
Last season, CCI procured 6.35 lakh quintals of cotton from Madhya Pradesh, indicating a significant volume of procurement.

Market Outlook:
The ongoing procurement by CCI is expected to support cotton prices in the region and may lead to price improvements.
Procurement in Other States:

Procurement efforts are also being carried out in other states, although details on these locations are not provided in the update.
In essence, the procurement initiative by CCI is crucial for stabilizing the market, ensuring fair pricing for cotton farmers, and improving the overall cotton trade in Madhya Pradesh and other states.