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Guntur: Sharp rise in cotton price after cyclonic rains
Sharp rise in cotton price after cyclonic rains
Due to floods and cyclones in September, October and November cotton gardens damaged in Guntur, Kurnool, Prakasam and Krishna districts
Guntur: Cotton price in the open market jumped to Rs 5,250 per quintal from Rs 4,500 per quintal in the past two months due to increase of demand in the open market.
Cotton Corporation of India is purchasing quality cotton at Rs 5,825 per quintal in the specified ginning mills and CCI purchasing centre set up in Agriculture Market Yards.
Due to floods and cyclones in September, October and November cotton gardens damaged in Guntur, Kurnool, Prakasam and Krishna districts. When the cotton gardens were damaged due to floods and cyclones, demand for quality cotton increased in the open market.
The exporters and traders are offering better price for cotton in the open market. Increase in cotton yarn price is one of the reasons for increasing cotton price in the open market.
When the cotton price increased in the open market, the farmers are
selling the cotton stocks in the open market. In order to sell cotton in the CCI purchase center or CCI authorized ginning mills, the farmer has to bear loading expenses and transport cost up to the CCI purchase center. He has to bear unloading cost and wait at least 15 days for payment. He will get Rs 500 to Rs 600 per quintal more, if he sells in the CCI cotton purchase counter. The farmers showing interest in the open market to avoid risk.
CCI officials informed that they have purchased 450,000 quintals in the State.
AP Spinning Mills Association vice-president Kallam Krishna Reddy said, "Depending upon the demand for cotton in the open market, the traders will offer price for cotton. Due to floods and cyclones cotton production will come down in the State compared to last year. Generally farmers will get 20 quintals to 22 quintals per acre. This year, farmers will get 10 to 12 quintals per acre due to crop damage."
An official in the Agriculture Marketing department T Bhaskar Reddy said, "At present cotton price in the open market is Rs 5000 to Rs 5,250 per quintal. Cotton price is expected to touch Rs 5,600 per quintal in the open market. There is no much difference of price in the open market and CCI."
