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Publish Date : 06-Feb-2015

After exceeding its goal of procuring 60 lakh bales, Cotton Corporation of India (CCI) is now hoping to obtain over 75 lakh bales of cotton in 2015. In addition to the procurement of cotton, CCI has already started selling cotton and has purchase around 15,000 bales in a week so far.

A senior official of CCI said the sale has received a good response since our prices are above the market rates and hence the cotton is being sold through both the e-auction and traditional means. CCI had initially aimed to sell 5,000 bales a day and hopes that it will increase as the arrivals also rises. Currently, the existing market rates are around Rs 31,500 per candy.

Arrivals would peak in the middle of this month. Arrivals are rising from the states of Maharashtra, Gujarat and Andhra Pradesh since the last week. The official said that he was in touch with the secretary of Tamil Nadu and felt intervention was not required. He said this in response to a query over farmers in the state asking CCI to step in to purchase cotton.

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