Nagpur: Government intervention again helped farmers in Vidarbha. Purchases of Cotton Corporation of India (CCI) Minimum Support Price (MSP) in 2020 are three times as much as during the same period of the previous year. Market sources said there were signs of an improvement in cotton prices.
This comes at a time when protesting farmers from Punjab fear that the regime following the new agricultural laws may end the MSP system. The government has promised that the MSP will last.
If the rates are below the level, the company that buys the cotton at MSP will have to pay CCI.
Farmers and private traders say CCI purchases are becoming a savior for growers in Vidarbha, where cotton is the main crop. Farmers here have suffered significant losses due to damage to the soybean crop. So they ran out of money and rushed to the CCI centers to sell at MSP. Rs.5,800 for MSP best quality cotton.
CCI President Pradeep Kumar Agarwal has purchased TOI from 75 lakh bales so far this year, three times more than the same period last year. The figure is almost the same for Maharashtra.
“Nearly 45% of the cotton arrivals in the country so far have been procured by CCI,” he said.
In Maharashtra, total cotton production is expected to be around 80 lakh bales. “Against this, 35 lakh bales have reached the market and CCI has bought 15 lakh bales,” the CCI chairman said.
Agarwal said CCI is ready to stay in the market till September. However, prices have already begun to improve and soon farmers will be able to sell their produce to private traders.
“CCI procurement figures are much higher than the same period last year. However, instead of getting the right view, we should compare the results of the season figures,” said Sunil Kothari, director of the Agricultural Produce Marketing Group (ABMC) in Hingkot in Wardha district. , “He said.
According to senior farm activist Vijay Jawandia, rates are unlikely to improve without a movement in international rates. “The price of cotton in the international market has to go beyond one dollar, so raw cotton is getting the best price in India. It is currently 83 rupees. Otherwise the price of cotton seeds in the domestic market should be above Rs 3,300 per quintal,” he said.