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CCI to sell cotton stock to spinning mills in MSME category only

India Blooms News Service | 16 Jul 2016, 06:37 pm
Kolkata, Jul 16 (IBNS): With the recent spurt in cotton prices resulting in higher input costs for the spinning sector in India, the Ministry of Textiles on Saturday announced that the Union government has taken a few measure after reviewing the situation.
The Ministry said that the Cotton Corporation of India will sell its existing stock, purchased under MSP, to spinning mills in the MSME category only. This would be based on firm indents by such MSME spinning textile units registered with the Office of Textile Commissioner.
Noting that sowing of cotton has picked up,a representative from the Department of Agriculture informed that 75.41 lakh hectare of sowing has taken place as on July 15 against normal sowing of 78 lakh hectare in the corresponding period of previous years.
It was further informed that the Department of Agriculture is taking steps to manage whitefly attack in cotton in 2016-17, in states of the Northern Zone. A Central team has been assigned to monitor whitefly infestation and management; advisories have been issued to states in this regard as well.
The Textiles Commissioner informed the opening balance is expected to be 43 lakh bales on September 30, 2016

CCI to sell cotton stock to spinning mills in MSME category only

India Blooms News Service
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