CCI buys more cotton to help India’s farmers
17/01/2020
According to P. Alli Rani, chairman of CCI, the state-run cotton buyer had to step in because trade was not offering good prices to the farmers, which is standard practice whenever prices fall beneath the government’s established minimum buying price. As reported by Reuters, the increased procurement by CCI could help farmers but might limit exports.
Ms Rani told Reuters that CCI has been buying in regions where private entities were not actively buying, but some have been gradually raising purchases in the last few days as global prices have improved. This, she said, could moderate CCI’s purchases.
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