Cotton Corporation of India procured 6.6 million bales of cotton

At the end of September 2009 cotton season, Cotton Corporation of India so far has been the lowest price from the market to support the procurement of 6.6 million bales of cotton, Cotton Corporation of India, a senior official said on Friday.

The procurement of cotton quarter of 2007-08 compared to the minimum support price purchases of 220,000 bales of cotton more than obvious. Cotton Corporation of India President and Managing Director SCGrover said: “The current market price lower than the minimum support price, so we have a largest possible number of procurement of cotton to protect the interests of farmers.”

In September last year, the Indian government sharply increased the minimum support price of cotton, while the weakness of demand-driven market prices below the minimum support price. Shankar selling the minimum support price of cotton increased by 40%.