Financial Daily from THE HINDU group of publications Wednesday, Oct 27, 2004 |
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Agri-Biz & Commodities
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Cotton Cotton production in AP put at 30 lakh bales Our Bureau
Hyderabad , Oct. 26 THE production of cotton in Andhra Pradesh this year is estimated to go up to 30 lakh bales as against 24 lakh bales last year as the area under the crop has increased from 8.37 lakh hectares to 11.29 hectares. Consequently, the State Government was expecting heavy arrivals of cotton at the market yards and had requested the Cotton Corporation of India (CCI) to open more purchasing centres. In response, the CCI had agreed to establish 56 cotton purchase centres all over the State and also to open 20 more purchasing centres if necessary. The Chief Minister, Dr Y.S. Rajasekhara Reddy, held discussions with the CCI Chairman and Managing Director, Mr Vishwa Nath, here on Tuesday and the latter had informed Dr Reddy that the minimum support price of cotton was increased to Rs 2,010 per quintal (FAQ). The CCI had also agreed to procure up to 30 per cent of the produce so as to ensure remunerative prices to cotton farmers, according to an official press release. The purchases of cotton would be monitored daily both at the district and State level. The issues like payment of gunny bag charges, transportation charges and opening of separate purchase centres in the market yards were also sorted out at the Tuesday's meeting which was also attended by the Minister for Agriculture, Mr N. Raghuveera Reddy and the Chief Secretary, Mr Mohan Kanda.
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