INDIA: NAFED sells 30,000 cotton bales through tendering process
The agricultural departmental arm of the Government of India, National Agricultural Cooperative Marketing Federation (NAFED), had decided to dispose off the cotton bales procured by it and stored in different warehouses across Maharashtra.
NAFED had planned to sell around 53,201 cotton bales (1 bale=170 kg) in its possession in Maharashtra and are a part of the purchases made in the new cotton season (2008-09). NAFED, till date has purchased 35 lakh bales from across all cotton growing centre’s in the country.
Fibre2fashion spoke to a senior company official who said, “Tender was declared open on March 4, and decision to dispose 30,000 bales to three different parties was taken at the rate of Rs 19,300 per candy. Other bids were not negotiable so were not approved”.
Added: March 7, 2009 Source: Agencies