Jammu and Kashmir Industries Limited has launched procurement of Cocoons in the ongoing Cocoon auction being conducted by the Sericulture Department in the Kashmir division.
Commissioner Secretary Industries and Commerce Department, M K Dwivedi, said that due to non-participation of the outside buyers in the Cocoon auction in the wake of COVID restrictions, the Government has decided that JKI would be procuring around 50000 kg of cocoons worth Rs. 4.0 crore directly from the Cocoon rearers in the auction.
“This intervention will help thousands of cocoon farmers who due to non-participation of the outside buyers in the auction process were worried and expecting poor returns for their crop”, he asserted.
Commissioner Secretary said that JKI has already carried out similar interventions in the Jammu Division where 60000 kg of cocoon has been procured. This initiative received high appreciation from all the stakeholders associated with silk industry especially the cocoon rearers.