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LATEST NEWS UPDATES | CCI for contract farming of cotton

CCI for contract farming of cotton

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published Published on Aug 30, 2010   modified Modified on Aug 30, 2010


Cotton Corporation of India (CCI) has said it favoured contract farming of cotton, also called the Integrated Cultivation of Cotton (ICC).

The 40th annual general body meeting of the CCI, which was held in Mumbai on August 27, felt that the cause of the ICC should be further pushed forward and farmers be convinced of it for better and effective results.

CCI deputy general manager, SK Panigrahi, in a release said the CCI through its branches was able to convince cotton farmers for ICC in the cotton growing states. “The Corporation has extended the project in all the cotton growing states bringing an area of 47,734 hectares under contract farming,” he said.

The company made a record sales turnover in 2009-10 “by pursuing the policy of pragmatic sales directly to the consuming mills by supplying quality cotton and providing pre- and post sales services to the customers,” Panigrahi said. The turnover during 2009-10 was up over 50 per cent to Rs 8,396.51 crore from Rs 4,974.84 crore from last year.

Panigrahi said the Tamil Nadu government had offered 4 per cent exemption from VAT, which helped CCI increase its sales from the depots at Coimbatore and Rajapalayam in Tamil Nadu.

During 2009-10, domestic consumption grew 9 per cent. It is set to increase in the coming years with the government implementing the technology upgradation for the local spinning, ginning and weaving mills and the increasing demand for the “raw cotton and for finished products like yarn, fabric and garments in the 2009-10 cotton season.”

As part of the technology upgradation, CCI by this March had modernised 242 cotton market yards across the country of the targeted 250. The total cost of the project is Rs 476.10 crore, of which CCI’s share is Rs 250.39 crore.

The cotton exports from India have also gone up considerably during 2009-10 when compared with the previous year. Besides the increased demand in the domestic market, a major portion was exported to the neighbouring Pakistan, Bangaldesh and China, he said. Exports stood at 8.3 million bales during 2009-10 as against 3.5 million bales in the previous year.


The Business Standard, 31 August, 2010, http://www.business-standard.com/commodities/news/cci-for-contract-farmingcotton/406359/


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