ICF urges PM to procure Cotton directly by CCI
To procure a minimum of 100 lakh bales, the Indian Cotton Federation (ICF) has requested Prime Minister Narendra Modi to direct by Cotton Corporation of India (CCI) as a record crop of 400 lakh bales is expected this season. In order to maintain stable prices throughout the year, this cotton should be sold directly to textile mills, ICF said in a letter.
Being one of the world’s largest cotton producers, lndia has retained its position for the three consecutive years. Sound cotton prices prevailed in the last three years and poor returns from alternative crops has encouraged many lndian farmers to grow more cotton, it said.
To support farmers’ sustenance in cotton and to double their income, CCl should act as a voltage stabilizer for prices by procuring cotton during the peak season and making it available to consuming mills during the lean season, the federation said.
A monitoring mechanism should also be set up to ensure that cotton prices do not dip and are around the minimum support price decided by the government, ICF added.
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