The Hindu : Andhra Pradesh News : CCI lifts record stocks

Online edition of India's National Newspaper
Thursday, Feb 17, 2005

Andhra Pradesh

Andhra Pradesh

CCI lifts record stocks

By Our Staff Reporter

HYDERABAD, FEB. 16. The Cotton Corporation of India (CCI) has lifted the highest ever cotton stock from growers in the State this year.

It has so far purchased 55 lakh quintals against the total produce of 1.50 crore quintals from 66 centres. The previous highest purchase by CCI in the State was in 2001-02 when it procured 23 lakh quintals, the Cooperation Minister, Kanna Laxminarayana, told reporters here on Wednesday.

YSR's initiative

He said the State Government had anticipated that the private traders would purchase stocks at low rates this year in view of a boom in the crop and the fall in international prices. It was in this background that the Chief Minister, Y.S. Rajasekhara Reddy, had appealed to the Centre to make CCI purchase the maximum from the State in order to rescue distressed farmers.

The CCI accordingly purchased without any restriction on the quantity and quality. Generally, the CCI purchased cotton in a quality range of 28.5 to 28 MM staple. But, it made an exception this time and purchased low quality stocks up to 25 MM staple. It was at Dr. Reddy's instance that CCI also waived transportation charges for farmers, the Minister added.

Mr. Laxminarayana added that the State Government was formulating proposals to be sent to the Centre to involve NAFED and MARKFED to buy chillies here.

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