Cotton Corp sells 13.83 lakh bales in ongoing season

Cotton Corporation of India (CCI) has sold about 13.83 lakh bales (170 kg each) of the natural fibre in the 2012-13 season and will offload another 9.03 lakh bales in a gradual manner in the domestic market.

The cotton season runs between October and September. "CCI has procured 22.86 lakh bales of cotton under MSP during the current cotton season and is disposing off its stock in the domestic market," minister of state for textiles Panabaaka Lakshmi said in a written reply to the Lok Sabha.
"As on 6 August, 2013, CCI has sold about 13.83 lakh bales of MSP cotton in the domestic market and is offloading the balance stock of 9.03 lakh bales in a gradual manner," the minister said. The CCI and National Agricultural Cooperative Marketing Federation of India are the nodal agencies which have been mandated by the government to procure the entire quantity of fair-average-quality-grade kapas offered by cotton farmers in nominated market yards of various states, the minister said.
The agencies would do so without any quantitative limit in the event of prevailing seed cotton touching the MSP, Lakshmi added.