Cotton sowing in Punjab has been delayed because only 20% of the crop has been sown till May 10. Also, only 63,220 hectares of land has been used for sowing in Punjab, according to Punjab Agriculture Department.
Browsing: farmers
Another bumper crop of cotton is in offing and tremors are felt already on the price front. The Cotton Corporation of India (CCI) is getting ready for yet another year of minimum support price (MSP) operations.
The Cotton Association of India fears that India may be piling up huge inventory of cotton just like China, if the Cotton Corporation of India (CCI) does not take measures to offload its stock swiftly. Maintaining the cotton output at the last estimated level of 38.27 million bales (a bale is 170 kg), Dhiren N Sheth, President, CAI, says the Corporation had procured about 8.7 million bales from farmers as part of the Government’s minimum support price commitment.
An amount of Rs 288.4 crore have been released for setting up of textile parks in the country during the last three years,´ Textiles Minister Santosh Kumar Gangwar said.
With the continuous decline in prices of cotton and yarn, and marked drop in buying of cotton from China, the Union Government is making attempts to bail out the domestic industry and farmers in India.