Cotton procurement exceeds record

The government’s purchases of cotton so far in the 2019-20 marketing year ending in September have exceeded a record 10 million bales, 170 kg per bale, accounting for 30% of the market arrivals.

The bumper harvest and poor export demand have restricted domestic prices and forced the government to intervene in the market to prevent farmers’ sales difficulties, especially until March.

Subsequently, the nationwide blockade prompted farmers to sell up to 2 million bales of cotton to the state-owned Cotton Corporation of India (CCI) between April and August, even if the peak arrival season was over.