The Central government will go ahead with procurement of cotton from the market at the minimum support price (MSP) irrespective of losses."The government, through Cotton Corporation of India (CCI), will procure cotton from the market till the last day of the season," textile minister Shankersinh Vaghela said today.The loss to CCI due to procurement this season is estimated at Rs 300 crore and that to the Maharashtra government at Rs 1,500 crore, Vaghela said."Whatever may be the loss, the government will be there in the market throughout the season. It will procure maximum cotton arrivals at MSP to help farmers," he said.Total arrivals expected now is 3,30,000 lakh bales as the estimated crop size is 213 lakh bales this season, he added.Textile Commissioner Subodh Kumar said the loss to CCI for procurement would be reimbursed by the central government. "At present, CCI is a profit-making body. Last year, we had a profit of Rs 12 crore. The loss incurred in procurement will be reimbursed after the season," he added.CCI has procured 2,30,000 lakh bales this season, and it is planning to export 6.5 lakh bales by March-end.
