The Union Government has increased the Minimum Support Price (MSP) of cotton by Rs. 211 per quintal (3.8 per cent) to Rs. 5,726 for medium staple variety, and by Rs. 200 per quintal to Rs. 6,025 for long-staple variety of cotton for the 2021-22 crop year (July-June).
The decision was taken by the Cabinet headed by Prime Minister Narendra Modi.
The hike in MSP this year is less compared to last year, when it was increased by Rs. 260 per quintal for medium staple variety and by Rs. 275 for long-staple variety.
In another development, the Telangana State Government is actively considering to come up with a policy on cotton solvent. This step will encourage ginning mills in the state. Singireddy Niranjan Reddy, agriculture minister of the state, told about this to the owners of the mills at a meeting.
Around 350 new mills have come up in last seven years in the state and another 30 are in the pipeline.
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