Acting as the government’s primary agency for cotton procurement at minimum support prices (MSP), the CCI initiates purchases when market prices dip below MSP levels. The procurement season spans from October 2023 to September 2024.
According to a senior CCI official, procurement was initiated this year due to declining prices starting from mid-October 2023. The official highlighted that approximately 32.81 lakh bales, each weighing 170 kg, have been acquired at MSP thus far in the current season. Notably, the CCI has already sold off 3.37 lakh bales of the procured cotton.
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