CCI to purchase cotton at MSP, says Textiles Minister S Vaghela
13 Oct '05
1 min read
The Cotton Corporation of India (CCI) would purchase cotton at minimum support prices (MSP), Shankarsinh Vaghela, the Union Minister of Textiles stated, Monday.
Speaking in the backdrop of INTEX exhibition being held in Mumbai to a media question on how Indian cotton industry would compete globally while prices crashed, Vaghela replied that cotton crop was low, the world over, and India's cotton output was expected to touch about 280 lakh bales this year; a record by itself.
Vaghela informed that cotton exports would be around 5 lakh bales and CCI will dispose of the cotton on offer but at MSP rates only.
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