As the cotton prices continue to plunge below the Minimum Support Price (MSP) of the Government, Cotton Corporation of India (CCI) will procure cotton worth Rs. 12,000 crore this season. The body which presently has an inventory of 800,000 bales (of 170 kg each) of cotton is expected to purchase 6 million bales from Maharashtra, Andhra Pradesh, Telangana and Gujarat. For the current season, the Government has fixed an MSP of Rs. 3,750 per quintal for medium staple cotton and Rs. 4,050 for long staple cotton. Cotton Association of India (CAI) has estimated India’s 2014-15 season cotton output at 40.55 million as against 40.72 bales in the 2013-14 season.
