MUMBAI (Commoditiescontrol) – Telangana government exempted market fee on cotton seed from earlier 1 percent, while hike on cotton from 1 percent to 1.5 percent.
Earlier Director of Agricultural Marketing, Telangana has constituted a committee to examine the issue of exemption of market fee on sale of cotton seed and according the committee held by the Additional Director of Marketing along with other members have submitted the report.
He had further stated that the committee in its report has examined the production of cotton seed turnout and market fee estimation and collection, wherein it is stated that market committees in the state will be losing 14-18 crores per year if the market fee on cotton is exempted.
In order to compensate the losses caused by exemption of market fee on cotton seed, the government has raised market of raw cotton to 1.5 percent from 1 percent.
The hike in raw cotton market fee is likely to hurt ginners as production cost will rise, said a Ginner from Adilabad.
(By Commoditiescontrol Bureau; +91-22-40015533)
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