The Hindu Business Line : CCI procures 3.19 lakh bales from Maharashtra

THE Cotton Corporation of India (CCI) has continued its operations in Maharashtra for the second consecutive year during 2003-04 after partial relaxation of cotton monopoly procurement scheme by the Maharashtra Government from cotton season 2002-03 and purchased 3.19 lakh bales as against 1.95 lakh bales during the previous year.

During 2003-04, CCI undertook only commercial operations at 227 purchases centres throughout the country and made total purchases of 8.89 lakh bales valuing at Rs 1,149.59 crore.

This was down with a view to paying remunerative prices to cotton farmers, which were ruling 9.47 per cent to 66.54 per cent higher than MSP for different varieties so as to continue their interest in cotton cultivation, according to a press release.

The corporation processed about 2.82 lakh bales with least contamination during the year. It proposed to continue processing contamination free cotton and increase the quantity to meet the growing demand of its clients in the coming years as well, the release said.

The corporation could achieve a highest turnover of Rs 1,049.49 crore as against Rs 971.53 crore during the previous year, which is the highest in all six years. It also achieved all targets committed to Ministry of Textiles under memorandum of understanding.

CCI made a profit before tax of Rs 12.78 crore during the year despite fierce competition from private trade both in domestic and export sales.

The previous year profit was Rs 3.20 core.

Despite large-scale imports, the corporation with concerted efforts could sustain the pace of its sales to private mills particularly, the quality conscious mills, which accounted for 83.54 per cent of its total sales in 2003-04 against 85.40 per cent during 2002-03.

CCI took up three projects of integrated cotton cultivation (contract farming), in Haryana, Maharashtra and Andhra Pradesh during 2003-04 cotton season covering 36 villages with an area of 2,767 hectares involving 1,476 farmers.

Being the implementing agency for Technology Mission on Cotton Mini Mission III and IV, the corporation continued to exceed the targets.