Punjab: Private Players Procure Cotton Above MSP; CCI Fears Hoarding

Thanks to heavy international demand, Punjab's cotton farmers are enjoying private players' offer paying prices above the prescribed MSP. The Cotton Corporation of India (CCI), which initially bought 27.50 lakh quintals at Rs 5,665, is now facing competition from private companies as they are offering Rs 5,900/quintal. While farmers are expecting a further rise, CCI Punjab GM Neeraj Kumar said often traders hoard stocks and wait for the prices to soar high to reap profits.