Central govt declared support price for cotton growers

Mumbai, Sep 6 (UNI) Maharashtra Government has decided to purchase cotton at support price, as announced by the Central Government, from October two and the farmers would be paid within a fortnight.

The decision to this effect was taken during the Cabinet meeting held here today.

The purchase of cotton for the 2007-08 season will be made through the Maharashtra State Cooperative Cotton Produce Marketing Federation.

The government has also agreed to stand guarantee for a bank loan of Rs 112 crore which may be required in case the cotton purchased is 50 lakh quintals.

UNI