Union Cabinet approves Rs 17,409 cr price-support for Cotton Corporation of India

The Cotton Corporation of India (CCI) received committed price support of Rs 17,408.85 crore from the Cabinet Committee on Economic Affairs (CCEA) on Wednesday for the cotton seasons (October to September) from 2014-2015 to 2020-2021.

During these years, the CCI procured cotton at MSP prices, which had been reached since cotton prices reached MSP levels. During the COVID-19 pandemic in the last two cotton seasons (2019-2020 and 2020-2021), the CCI procured roughly one-third of the country's cotton production, or about 200 lakh bales, and disbursed more than Rs 55,000 crore directly to around 40 lakh farmers' bank accounts.

According to a press release, the area under cotton cultivation during the cotton season 2020-2021 (October to September) was 133 lakh hectares, with an estimated production of 360 lakh bales, accounting for around 25 percent of total global cotton production. The CCI has made adequate arrangements in all 11 major cotton-growing States to meet MSP operations if needed for the current cotton season (October 2021 to September 2022), according to the press release.

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