To give an impetus to Indian textile industry to regain and increase its share of exports in international trade, Cotton Corporation of India (CCI) has come up with bulk quantity discount scheme for 2018-19 stock.
The scheme, effective since 2 March 2020, offers discount of Rs. 4,400 per candy on purchase of 10,000 bales a day and also Rs. 3,200 per candy even for a small quantity of 500 bales whereas MSME, KVIC & Cooperative Mills would be entitled to a minimum discount of Rs. 3,200 per candy even on purchase of one lot a day.
The scheme is valid up to 30 April 2020 on first come first served basis.
Ashwin Chandran, Chairman, The Southern India Mills Association (SIMA) welcomed the scheme as it will protect the interests of MSME spinning mills.
Corroborating on the same, he said “The discount ranges from Rs. 3,200 to Rs. 4,400 per candy of 355 kg and CCI has quoted Rs. 46,400 per candy for 30 mm cotton of fair average quality while the current market price is around Rs. 40,500,” he said.
He further added that considering the free lifting period and quality claimed by CCI for its cotton, the prices would come closer to the market prices and mills might commence procurement from CCI. “I hope CCI would soon offer its current year MSP cotton at market prices at constant intervals till season end and facilitate stability in cotton prices,” he said.
|Purchase of Minimum Quantity Per Day (in Bales)||Discount (in Rs. Per Candy)|