CCI set to start procurement at MSP in Telangana
The Cotton Corporation of India (CCI) is set to start purchases of the fibre crop for the 2018-19 season at minimum support price (MSP) from Telangana over the next few days.
Procurement is likely to begin in the next few days in Telangana since the moisture content is approaching 12 per cent there due to dry weather. Historically, the MSP procurement in Cotton generally starts in the third or fourth week of October.
About 270 ginning mills in Telangana are expected to start Cotton purchases. The Marketing Department will open 11 procurement centres. Some of the centres have already begun purchases.
CCI has geared up for large-scale MSP operations across the country as the Centre announced an MSP increase of 26-28 per cent for the fibre crop over last year. For the long staple variety, MSP has been increased by 26.16 per cent to Rs 5,450 per quintal, while for the medium staple, MSP hike has been 28 per cent to Rs 5,150 per quintal.
Financial Advisory which means a lot to a Financial trader and we can do a best with your investments with all mandatory work skills subscribe us now and get two days Free Trial >> Bonaz Capital