“Despite the state producing an ample cotton yield, reports of import of 22 lakh bales of cotton have raised concerns about a potential sharp decline in the domestic cotton prices,” he said in the letter.
The Cotton Corporation of India (CCI) also has 11 lakh million unsold bales in stock, the Congress leader said.
Considering farmers’ welfare, Patole said the Centre should impose an immediate ban on cotton imports and instruct the CCI to purchase cotton at the guaranteed price.
He said the current cotton price is between Rs 6,500 and Rs 6,600 per quintal, which is below the minimum support price (MSP) of Rs 7,122.
With the low market price, farmers have refrained from selling their cotton, the Congress leader claimed. Cotton stocks are held by farmers as well as by the CCI, he added. Importing cotton when the country already has such a large stock would lead to collapse of the cotton market, significantly impacting farmers while benefitting only traders, Patole said.
The cotton farmers in Maharashtra are already facing difficulties due to low prices, 12 to 18 per cent GST on agricultural equipment, and unseasonal rains, he said.
The adverse weather has damaged cotton across 19 lakh hectares this year, and the compensation announced by the central government remains only on paper, the Congress leader claimed.
Patole further claimed that the Pradhan Mantri Fasal Bima Yojana benefits insurance companies rather than farmers.
