AMN / CHANDIGARH
Private companies in Punjab have started purchasing cotton way above the Minimum Support Price (MSP) fixed by the government for this season. While Cotton Corporation of India (CCI) – the government authorised agency for cotton procurement – is purchasing the produce between 5,665 and 5,725 rupees per quintal, private players have started buying it for 5,900 rupees per quintal.
Private players include cotton traders and cotton factories from different parts of Punjab. Cotton farmers of the state are now selling their produce to private companies, relegating the government agency – CCI to the background. A CCI Punjab official said, private players are buying cotton at a much higher price than MSP due to increased demand and higher price of cotton in the international market.