State-run Cotton Corporation of India (CCI) has begun its annual cotton procurement drive for the 2012-13 marketing season (October-September ). The move is expected to arrest any downward pressure on cotton prices in the coming days. International cotton merchants such as Olam, Louis Dreyfus, Cargill, Paul Reinhart and Glencore are expected to start purchases in the next few weeks.
"We have started commercial procurement of cotton in Punjab markets from today and will open procurement centres