Cotton procurement in Madhya Pradesh booms under MSP support

The Cotton Corporation of India (CCI) has stepped up its game in Madhya Pradesh, procuring a record-breaking six lakh quintals of cotton since the season began in October. This marks the highest procurement in the last two years and highlights the impact of Minimum Support Prices (MSP) set by the government.

With cotton prices dipping below MSP in October, farmers faced a depressing scenario. However, CCI's intervention through 21 procurement centres across the state offered much-needed relief. As per a senior official, "Market prices have improved and are ruling around MSP," encouraging continued purchases as long as farmers bring their produce.

The government's MSP of Rs 6,620 per quintal for medium staple and Rs 7,020 per quintal for long staple cotton played a crucial role in stabilizing the market. While cotton arrivals are expected to decline in the coming weeks, CCI remains committed to procuring cotton as per quality parameters.

This proactive approach stands in stark contrast to last year, where prices stayed above MSP and CCI stayed out of the market. This year's intervention underscores the importance of MSP in protecting farmers' interests and ensuring a stable cotton market.

In conclusion, CCI's timely intervention and MSP support have significantly boosted cotton procurement in Madhya Pradesh, offering much-needed relief to farmers and stabilizing the cotton market.