CCI tweaks discount plan to price its cotton at market level

In a bid to trim its bulging stocks and to assure availability of uncooked material to the spinning mills at competitive prices, Cotton Company of India (CCI) modified its discount scheme on Monday by rationalising the prices.

“To provide the twin objective of aiding farmers and also the spinning mills, we have rationalised prices,” claimed PK Agarwal, Chairman and Taking care of Director, CCI. The rationalisation has introduced CCI cotton prices nearer to the marketplace degree.

“Our prices are now in parity with the marketplace,” Agarwal advised BusinessLine. The great top quality cotton in the marketplace is ranging among ₹35,000 and ₹36,000 for every sweet. “Our top quality 29 mm cotton is priced at ₹36,two hundred-36,five hundred,” Agarwal claimed.

Beneath the new scheme, which will be in drive till June conclusion, CCI has set the lessen base value ranging from ₹35,600 to ₹37,five hundred a sweet of 356 kg each individual. A discount of ₹300 is currently being supplied for minimum acquire of five hundred bales for every working day. Bigger discount of ₹1,two hundred is currently being supplied for acquire of more than two lakh bales for every working day.

Prices underneath the new scheme are continue to on the larger side by about ₹1,000 for every sweet, claimed Ramanuj Das Boob, a sourcing agent for mills. “Demand for CCI cotton could decide on up once arrivals gradual down in the times forward,” Boob claimed.

Printed on

June 15, 2020

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