Warangal: Cotton surges to record price
Cotton prices hit an all-time high with Rs 9,310 a quintal at the Enumamula Agriculture Market Yard here on Monday.
Warangal: Cotton prices hit an all-time high with Rs 9,310 a quintal at the Enumamula Agriculture Market Yard here on Monday. The traders predict that price may witness a further surge due to the ongoing high demand for the Indian yarn in the global market. Surprisingly, the price of white gold this season is much more than the CCI's support price of Rs 6,025 per quintal. Right from the beginning of the season, the cotton price stayed over Rs 7,000 per quintal, and witnessed a gradual surge.
Encouraged by the remunerative price last year, farmers cultivated cotton in 62,000 acres in Hanumakonda district, 2 lakh acres in Warangal district, 1.80 lakh acres in Jangaon, one lakh acres in Jayashankar Bhupalpally district and Mahabubabad districts, and 50,000 acres in Mulugu district.
"This is a ploy to lure the farmers to go for cotton cultivation," the All India Kisan Federation (AIKF) State joint secretary Peddarapu Ramesh told The Hans India. He said that due to untimely rains, cotton yield has come down this season. Against this backdrop, traders lure the farmers to take up cotton cultivation abundantly. Later, the farmers have to stand before the traders and middlemen like beggars to sell their produce, he added.