TAD NewsDesk, Pune: There has been a substantial increase in the International prices which has led to a rise of 25% to Rs 5,000 – Rs 6,000 per quintal in two months. Due to this reason, farmers are arriving at the markets brining up to 310,000 bales which is the highest in the decade said the Cotton Association of India (CAI).
According to CAI, Total cotton arrivals in the market till November 21 amounted to seven million bales while previous year in was one million bales in the same period.
Pradeep Jain, president, Khandesh Ginning and Pressing Association said,
“After having a sluggish market for three years, there are many positive indicators that support a firm trend in cotton prices. Cotton supply will not be surplus this year, as demand is reviving while supply will be smaller than expected earlier.”
Atul Ganatra, president, CAI,
“Along with other reasons, increase in prices of cotton seed by about 10% has supported the increase in cotton seed prices.”
The government agency Cotton Corporation of India has begun cotton procurement in 10 states, which led to an increase of sales in open market prices. The minimum support price for long staple cotton is Rs 5,825 per quintal for kharif 2020.
