Related Keywords: CCI, Cotton Advisory Board, current marketing year, loss incurred, minimum support prices, prevent distress sales by farmers, procurement operation, procures fibre from farmers, record losses incurred, reimbursed by government, State run cotton corporation of India, textile vision policy
The state-run Cotton Corporation Of India (CCI) that procures the fibre from farmers at minimum support prices (MSPs) to prevent distress sales by farmers and sells the stocks later in the market. Any loss incurred out of the procurement operation is reimbursed by the government. In the current marketing year through September, the government will likely incur record losses of around Rs2,500 crore on its cotton procurement operations.
