Cotton Corporation of India (CCI) which is mandated to procure cotton at minimum support price will start selling cotton from 15 January 2015. According to M. M. Chockalingam, CCI director (marketing) told the Corporation had so far purchased 40 lakh bales. It plans to offload 10,000 bales every day and measures would be taken to ensure there was no fluctuation in prices.
The CCI purchased 70-80 per cent of arrivals In the southern States and 10-15 per cent in Gujarat and Maharashtra. Traders are active in these two States, and are purchasing cotton at more than the MSP. The total purchases by the Corporation this season (October, 2014, to September, 2015) at MSP is expected to go up to 100 lakh bales. The CCI was now present in 341 centres and purchasing cotton actively in about 150 centres.
According to reports, arrivals had picked up, and over two lakh bales of cotton were arriving to the market every day. Though there were no quality issues, export demand was almost nil and domestic mills were buying only limited stocks.
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