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Our Bureau

Hyderabad , Feb. 16

THE Cotton Corporation of India (CCI) has stepped up purchase of cotton stocks from the open market this month helping shore up prices in the market yards following excess production.

The State Minister for Cooperation, Mr Kanna Lakshminarayana, said so far, CCI has established about 66 purchase platforms across the State including in some of the remote areas and picked up cotton stocks of about 55 lakh quintals, which is a record in itself.

That apart, following a request by the State Chief Minister, Dr Y.S. Rajashekhara Reddy, for Union Government's intervention and consequent directives, the CCI is also not insisting on payment of transport charges by the farmers. Earlier, the practice was to give the farmer the market price and insist that they bear the transport charges.

Given the glut in cotton production in the global market, cotton prices had plummeted. In several cases, traders were reported to be exploiting the farmers offering much lower rates. The intervention of CCI and its flexibility in not just prices but also in the grade quality had helped significantly, he said.

Chilli crisis

Referring to the steps taken by the State to help the chilli farmers faced with the problem of excess production and falling prices, the Minister said the Government had requested the Union Government to intervene and direct agencies such as Nafed and Markfed to step up purchases and ensure remunerative prices.

Stocks from last year have piled up in various cold storage facilities across the State adding to the crisis in the market.

The Chief Minister spoke to the Agriculture Ministry to step up market intervention as this would help stabilise prices and farmers could benefit, the Minister explained.

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