Recently
Mcx
cotton goes upside with positive 70.00 points increment and cotton
stands with 15920.00 points.
The
cotton price crash has dealt with a heavy blow to the farmers in
India. The desperate farmers are selling cotton at throwaway prices
due to the lower price and poor yield.
The
price have plunged below minimum support price(MSP) and the Modi
government has asked Cotton Corporation of India Limited(CCI) to buy
cotton. By the end of November, 2014 CCI has procured approximately
11,58,000 bales of cotton valuing around 2700 Crores for market
stablisation and thereby alleviating farmers’ distress.
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