After Anand Sharma, Minister of Commerce, Industry and Textiles held a review meeting to discuss and stabilise the sharp fall in cotton prices, the Indian government is all set to intervene in the cotton market as prices begin to touch MSP (minimum support price) levels in some areas. The Government has also revised MSP prices for medium staple cotton from Rs 2,800 per quintal to Rs 3,600 and for long staple cotton from Rs 3,300 to Rs 3,900 per quintal for the 2012/13 cotton season. Current estimates suggest an exportable surplus of cotton of seven million bales, based on production…