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| AW Punjab: Cotton Farmers Fetching Good Prices | |
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In Punjab, the average price of medium staple cotton is ruling above MSP of Rs 2,800 per quintal in different mandis of the state. The prices of cotton would further surge in coming days, traders said.
They said, the average price of cotton was hovering between Rs 2,850-Rs 3,000 per quintal, going even up to Rs 3,435 per quintal in some cases, sources said. Reports say the entry of CCI (Cotton Corporation of India) led to spurt in prices of cotton.
However, the arrival of cotton in different mandis of the state is less as compared to corresponding period last year.
Overall, 13.74 lakh quintals (2.76 lakh bales) were procured from different mandis by private traders and CCI as on October 26 as compared to 13.80 lakh quintals (2.74 lakh bales) procured during the corresponding period last year, they reported.
At present, the procurement in the state is dominated by private traders who procured 9.24 lakh quintals while CCI managed to procure 4.50 lakh quintals. As per the Board, the price of cotton (long staple) is ruling at Rs 2,000 to Rs 3040 per quintal, while the price of medium staple hovers around Rs 2,050 to Rs 3,435 per quintal.
This year, Punjab has brought 5.36 lakh hectares land under cotton crop against 5.27 lakh hectares last year, posting a jump of 2 per cent.
Further, the state is expecting to achieve cotton output of 90 lakh quintals this procurement season as against 74 lakh quintal last year, according to the state government estimates.
The area under cotton surges this year because cotton growers got handsome prices for their produce. |