Govt urged to immediately announce cotton MSP

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COIMBATORE, MAY 13:

The Cotton Association of India has urged the Government to announce the minimum support price (MSP) for cotton immediately.

CAI President Dhiren N. Sheth said that the average daily arrivals in the market yards were around 60,000 bales.

“Sowing has already commenced in the north zone. In such a situation, the Government should intervene and fix the MSP for cotton to facilitate farmers take an early decision,’’ he said.

Meanwhile, the association has released its April estimates of cotton crop for the 2012-13 season. It has placed the crop at 352 lakh bales and the estimated total supply at 420.21 lakh bales.

Domestic consumption has been estimated at 278 lakh bales leaving an available surplus of 142.21 lakh bales.

Source: The Hindu Business Line

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