CCI buys cotton to aid MP farmers amidst market shift.

The Cotton Corporation of India (CCI) has stepped in to buy cotton from Madhya Pradesh farmers, procuring 6.35 lakh quintals to stabilize prices. This intervention addressed a decline in cotton prices across the country. CCI set up 21 procurement centers across the state, offering Minimum Support Prices (MSP) of Rs 6,620 and Rs 7,020 per quintal for medium and long-staple cotton respectively. Last year, strong market conditions meant no procurement was needed.

Experts predict a drop in cotton arrivals due to rising demand from textile mills. The Cotton Association of India forecasts a production decline in Madhya Pradesh, estimating 18 lakh bales compared to the previous year's 19 lakh bales.

Looking ahead, the trade body aims to export 14 lakh bales of cotton in the current fiscal year. This focus on exports aims to enhance India's cotton competitiveness globally and promote sustainable growth in the textile sector.

The proactive measures by CCI reflect a strategic approach to supporting farmers and stabilizing cotton markets. As market dynamics evolve, collaboration between government agencies, trade bodies, and industry stakeholders will be crucial for the future of India's cotton sector.