CCI exceeds target, procures 31 lakh bales of cotton in 2024-25

The Cotton Corporation of India (CCI) has made significant strides in its procurement operations for the 2024-25 cotton season. By mid-December, the state-owned agency had already procured over 31 lakh bales of cotton at the Minimum Support Price (MSP), accounting for over a third of the total market arrivals. This proactive approach aims to support farmers, especially in the face of declining raw cotton prices.

Telangana and Maharashtra have emerged as the leading states in CCI's procurement efforts, followed closely by Andhra Pradesh and Karnataka. Despite the increased MSP for the current season, raw cotton prices have been trading below the government-set rates due to weak demand from yarn mills and a decline in cottonseed prices.

The Cotton Association of India (CAI) reported that daily market arrivals have exceeded 2 lakh bales, with cumulative arrivals surpassing 83.30 lakh bales. However, the overall cotton production estimate for 2024-25 has been reduced to 302.25 lakh bales due to adverse weather conditions and reduced acreage in certain regions.

CCI's aggressive procurement strategy is crucial in stabilizing market prices and ensuring fair remuneration for farmers. By surpassing last year's procurement figure of 33 lakh bales, the agency is demonstrating its commitment to the cotton sector and its stakeholders.