Maharashtra recently allowed resumption of cotton procurement with a condition that all guidelines regarding COVID-19 must be followed. Maharashtra State Co-operative Cotton Growers’ Marketing Federation (Cotton Federation) resumed fair average quality (FAQ) cotton procurement from April 21. Private traders have been allowed to procure non-FAQ grade cotton.
The federation has been authorised to procure only FAQ grade cotton as a sub-agent the of Cotton Corporation of India (CCI).Maharashtra recently allowed resumption of cotton procurement with a condition that all guidelines regarding COVID-19 must be followed. Maharashtra State Co-operative Cotton Growers' Marketing Federation (Cotton Federation) resumed fair average quality (FAQ) cotton procurement from April 21. Private traders have been allowed to procure non-FAQ grade cotton.#
Amravati district, which has seven procurement centres, started procuring cotton from April 21. Zonal managers of the federation are being contacted in various parts of the state to streamline the procurement process in coordination with respective district administrations, according to a report in a top regional newspaper.
The list of cotton growers who had registered with the Agriculture Produce Marketing Committee (APMC) is ready. However, funds with the Cotton Federation stand exhausted now.
The state government had earlier approved a loan of ₹2,300 crore. Now, a fresh loan of ₹1,000 crore has been approved, but it will take a few days as the bank guarantee and other formalities are to be completed. Besides, the federation is waiting for the government to release margin money of ₹100 crore.
Fibre2Fashion News Desk (DS)
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