A committee of cotton and textile stakeholders, including the government, fixed the cotton price at 29 Br to 32 Br a kilogramme to help troubled cotton growers dispose of their accumulated stock of 106,000tn.
The main reason for the overstock was an excess harvest of cotton in 2011/12. The total amount harvested this year was around 79,471tn, which was 60,000tn more than the previous year's harvest. This was because the total area covered by cotton had increased by a whopping 80,000ht, bringing the total land area to 111,888ht.
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