Maharashtra to purchase cotton under monopoly scheme from Nov 11
10 Nov '05
1 min read
In a move to support the cotton farmers of the State of Maharashtra, the Chief Minister Vilasrao Deshmukh announced that the Cabinet approved State Co-operative Cotton Growers Marketing Federation purchase cotton under the monopoly procurement scheme from November 11 as per the minimum support price for different grades by the Centre.
As a result, about 100 centres will be established in the State, particularly in the cotton growing districts in Marathwada, Vidarbha and North Maharashtra.
More center if required may also be set up, he said.
Procurement of cotton to the tune of 17 to 18 million quintals of cotton this season entailing a loan of Rs 1,900 crore will have to be sought, he added.
However, Deshmukh said the government, will allocate Rs 480 crore as margin money.
Prices for H4 grade cotton under the minimum support price is fixed at Rs 1,980 per quintal and for the other grades it Rs 1,760 per quintal.
He also informed that his Government was in talks with Centre to ask the Cotton Federation of India (CCI) open more procurement centres in Maharashtra.
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