CCI purchased 6.35 lakh quintals of cotton in Madhya Pradesh
By 2024-03-19 10:33:29
CCI purchased 6.35 lakh quintals of cotton in Madhya Pradesh
The Cotton Corporation of India (CCI) has procured approximately 6.35 lakh quintals of cotton from the markets of Madhya Pradesh in the current season.
Procurement was halted in February as market prices improved. CCI had established 21 procurement centers in MP due to declining prices across many centers in the country. Cotton arrivals in spot markets have decreased, with expectations of further decline.
Textile mills are experiencing increased demand for cotton and are operating at full capacity. The Cotton Association of India predicts a decline in cotton output in Madhya Pradesh to 18 lakh bales compared to 19 lakh bales last year, with a target of 14 lakh bales for cotton exports in 2023-24.
