The Government of India does not consider the minimum support price of cotton down

The Government of India has been revised downward to exclude the minimum support price of cotton. Cotton Corporation of India to take the lead in the textile industry, India’s textile industry as well as the League of Gujarat Chamber of Commerce and Industry at the same time increase cotton to the government’s suggestion that the lower the minimum support price of cotton, because cotton prices have increased the minimum support of 40-45%. Mercantile Exchange, its seventh in the National Assembly during the recess, in charge of agriculture, consumer affairs, food and public distribution of federal minister Sharad Pawa said that the government did not consider changing the minimum support price of cotton. He said the government needs to protect the interests of farmers.

Due to the minimum support prices, the prices of most varieties of cotton last year than the growth of 30-35%, the textile industry is expected to sharply reduce demand, but also because of the global economic slowdown, export orders of about withdrawal. Global demand for cotton to reduce the total amount of about 3% to 25,500,000 tons. In addition to India, the world’s cotton prices are plummeting.