The cotton industry is concerned that the huge cotton seed stock available with the state-run Cotton Corporation of India (CCI) may result in an increase of cotton oil as well as animal feed prices.
For the 2019-20 season beginning October, the agency has procured 3.1 million tonnes of cotton bales of 170 kg each till date and aims to procure 10 million tonnes of the commodity this season. From the cotton procured by the CCI, the agency has extracted more than 200,000 tonnes of cotton seed.
About 20 per cent has not been sold in the market by the agency at a time when the season is at its peak. This has led to prices…
View entirety: Economic Times