The Cotton Corporation of India (CCI), a government undertaking, has covered about 40,000 hectare under cotton contract farming scheme during the fiscal year 2007-08.
To give a boost to cotton production through contract farming, CCI has signed several memorandum of understanding (MoU) with the Farmers’ Association in all the important cotton growing States.
The CCI has continued its efforts to promote and popularise the concept of integrated cotton cultivation during 2007-08 and has extended the programme in all cotton growing States through its branches as well as leading textile mills as its associates.
With a view to ensure competitive prices to the cotton farmers, the corporation also carried out commercial operations and purchased 7.65 lakh bales valuing Rs 921.34 crore as against 2.71 lakh bales valuing Rs 286.35 crore during the previous year, according to CCI issued annual statement.
The CCI’s operations cover all the major cotton growing states in the country.
With wide usage of hybrid/Bt seeds throughout the country as well as changed mindset of cotton farmers for adoption of better and improved farm practices, the average productivity of cotton has increased by around 7% at 560 kgs per hectare as against 521 kgs during the previous year.
As per role assigned to the CCI, it had undertaken MSP operations for the fourth consecutive year and purchased 11.88 lakh quintals of kapas equivalent to 2.25 lakh bales valuing Rs 248.64 crores in Andhra Pradesh and Orissa so as to ensure the payment of remunerative prices to the cotton growers of these States.
Since October-end 2007 till July 2008, the cotton prices had been higher by around 20% to 40% compared to last year. The opening cotton prices during the fiscal 2007-08 had been higher by around 4% to 17% as compared to previous year. However, in view of continuous demand in exports, the cotton prices kept on rising.