The Gujarat government has announced a bonus of Rs 110 per 20 kg of cotton to help farmers get the additional amount on the Minimum Support Price (MSP) of Rs 810 per 20 kg when the crop is sold to government procurement agency, Cotton Corporation of India (CCI).
The bonus scheme will be applicable from December 18 on cotton procured by CCI. According to trade sources, CCI has so far procured about 5,000 bales of cotton from Gujarat. With the additional financial support by the state government, farmers will get Rs 920 per 20 kg. But raw cotton prices are already ruling at Rs 925-930 per 20 kg.
