Mah Govt to procure cotton on MSP under Cotton Monopoly scheme

Mumbai, May 25 (UNI) The Maharashtra government today announced that it will procure cotton on the minimum support price (MSP) to be announced by the Centre under its Cotton Monopoly Procurement (CMP) scheme.

Addressing a news conference, State Marketing Minister Harshvardhan Patil said it was announcing its policy much ahead of the sowing season to prevent confusion in the minds of the farmers on the type of crop pattern they should take up.

He said last year the MSP was Rs 1,980 per quintal.

Mr Patil said about 250 procurement centres would be set up in different parts of the state.

The procurement for 2006-07 will begin from November this year through the Cotton Marketing Federation. The accumulated loss suffered under the cotton monopoly procurement scheme was Rs 5,700 crore.

The Minister said cotton prices the world over are coming down as compared to others. Last year, few farmers grew cotton by organic means and got Rs 3,200 per quintal. Most farmers should take up organic farming, he added.

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