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Govt likely to set record price for cotton crops

YarnsandFibers News Bureau 2014-04-02 16:55:00 – New Delhi

The Commission for Agricultural Costs and Prices has proposed the government on setting crop rates. The panel has suggested the government to set record prices for purchases of cotton and other products from farmers as it will safeguard incomes of the farmers, according to government officials with knowledge of the matter.

The panel has proposed that the price the cotton to be increased by at least 1.25 percent. The long-staple cotton be increased to Rs.4,050 per 100kg from Rs.4,000 and the medium variety raised to Rs.3,750, from Rs.3,700.

However, the decision will be taken only by the new government after general elections next month.

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