ADILABAD/WARANGAL: In a first in Adilabad’s history, the price of cotton touched Rs 8,020 per quintal on Tuesday. The soaring prices are being attributed to the crop’s rising demand in national and international markets. Sources said that the yields in countries like the US, China and Pakistan were poor this year and that the prices were increasing accordingly.
Cotton procurement in the district was inaugurated by Collector Sikta Patnaik. The crop was initially purchased at Rs 7,920 per quintal, but after protests of farmers, the Minimum Support Price (MSP) was hiked by Rs 50 per quintal. Around 10,000 quintals of the crop have been purchased by officials
so far.Reportedly, executives from a leading US company had visited the district to assess the quality of the cotton being brought by farmers, on account of the recent floods in the region.
Speaking to Express, a trader named Chintawar Raju said that the prices of cotton in the India and international markets were different. “The prices are increasing in local markets and we’re hoping that the produce will be exported to other countries.”
The price of cotton hit a record high of Rs 7,960 per quintal at the Enumamula Agriculture Market in Warangal too. On Tuesday, farmers were seen arriving at the market with huge loads of cotton. To be specific, around 14,333 bags (7,167 quintals) of cotton was brought to Enumamula.
The Cotton Corporation of India (CCI), however, has not begun purchasing the produce yet. Speaking to the media, Enumamula Agriculture Market secretary BV Rahul said that cotton crop was fetching farmers good prices. He urged farmers to utilise the demand.
MSP hiked by Rs 50 after protests
Cotton procurement in Adilabad district was inaugurated by Collector Siktha Patnaik. The crop was initially purchased at Rs 7,920 per quintal, but after protests of farmers, the Minimum Support Price (MSP) was hiked by Rs 50 per quintal. Around 10,000 quintals of the crop have been purchased by officials so far