Related Keywords: cotton production, cotton textile sector, MSP
India having good monsoon this year, marginal improvement in acreage as well as the yield, coupled with an announced hike in the Minimum Support Purchase Price (MSP), research firm CARE Research expects to see improvement in the India's cotton production.
A good monsoon accelerates sowing which is conducive for the overall increase in cotton production as majority of India's cotton area is rain-fed, the report said.
The country's cotton production is expected to be around 378.75 lakh bales, while consumption is likely to be around 300 lakh bales this year.
