India Cotton Trader Boosts Buying to Help Suffering Farmers
- Cotton Corp. of India purchases hit 5-year high as prices fall
- Global sentiment becomes ‘very pessimistic,’ says D.D. Cotton
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An Indian state-run cotton buyer is boosting purchases from farmers to prevent them from making distressed sales as the spreading coronavirus curbs demand in key export markets and causes prices to slump.
Cotton Corp. of India Ltd. has bought about 7.5 million bales (170 kilograms each) from farmers so far in 2019-20, and will buy more if growers offer supplies, Chairman P. Alli Rani said in a phone interview.