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Texprocil asks CCI to release 50,000 cotton bales a day

The Cotton Textiles Export Promotion Council (Texprocil) has demanded the release of 50,000 cotton bales. It has asked the government to direct Cotton Corporation of India (CCI) to immediately start releasing the said number of bales per day for 100 days through e-auction to address the issue of cotton shortage.

“We have urged the government to instruct Cotton Corporation of India (CCI) to immediately start releasing at least 50,000 bales per day for a period of 100 days through E-auction directly to the actual users,” Texprocil Chairman R K Dalmia said in a statement.

For now, the cotton textiles industry is facing issues due to non-availability of adequate quantity of cotton on account of the ‘Stop-Go’ policy of the CCI in spite of holding high level of stock, he added, further stating that CCI has procured 86 lakh bales of cotton under the Minimum Support Price (MSP) during the current season to protect the interest of the farmers. Out of this, CCI has offloaded only three lakh bales of cotton so far and is presently releasing between only 3,000 to 5,000 bales per day as against a stock of around 83 lakh bales, which leading to steep rise in prices besides creating shortage of good quality cotton, which in turn is adversely affecting the exports of yarn, fabrics & made-ups.