Punjab cotton growers hold back crop, expect price hike

Punjab cotton growers hold back crop, expect price hike

Even as cotton has started fetching as high as Rs 8,300 per quintal, its arrival in the mandis across the state is delayed. Experts attribute the decline to farmers’ anticipation of higher prices and pink bollworm attack

Bathinda,
Punjab

Even
as cotton has started fetching as high as Rs 8,300 per quintal, its arrival in
the mandis across the state is delayed. Experts attribute the decline to
farmers’ anticipation of higher prices and pink bollworm attack.

The
Cotton Corporation of India (CCI) revealed that so far (till October 20th) only
3.75 lakh quintal of cotton has been purchased at mandis. A senior functionary
of the CCI said that, farmers are well aware that they can fetch lucrative
prices now, but they are holding back the produce, anticipating a further hike
in prices and if that happens, they will start bringing the produce in bulk.

After
making a record purchase of 50% of the total cotton produced in the state
during previous procurement season, the CCI did not even enter the market this
year as private players were already buying cotton at prices way above the MSP.

Modan
Singh, a buyer from Bathinda-based private cotton mill, said that, even though
quality of cotton is not that good as compared to the last season, they are
compelled to buy it at higher rates.

He
said as there was pink bollworm attack on the crop in
Malwa region this time, there was a sense of
uncertainty whether they would be able to buy the required quantity of cotton
this season or not. Labour shortage is another factor that is on the minds of
buyers as they would remain engaged in paddy harvesting in the coming days.

Source: The Tribune

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Source: Google Images

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https://indiantextilejournal.com/latest-textile-industry-news/govt-to-revamp-atufs-modernisation-scheme-for-textiles

 

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