Archit Watts
Tribune News Service
Muktsar, November 2
The cotton price has hit an all-time high by selling at Rs 10,500 per quintal in the Gidderbaha grain market. Notably, the cash crop was fetching Rs 7,500-7,800 a quintal around a fortnight ago. The minimum support price (MSP) is fixed at Rs 5,925 per quintal. Gaurav Garg, District Mandi Officer, Muktsar, said, “The cotton yesterday fetched Rs 10,500 per quintal here.”
Bhagwan Bansal, former president, Punjab Cotton Factories and Ginners Association, said: “There are various factors for the increase in cotton’s price. This year, the production is lesser as the pink bollworm has damaged the crop, but there is a huge demand of readymade garments, especially in Europe where Covid restrictions have been lifted after almost two years. The Centre government’s promise of doubling the farmers’ income is also one of the reasons for cotton’s price rise.”
He added, “The average price of cotton is between Rs 9,200 to Rs 9,500 per quintal and we are hopeful that it will go up in the coming days. Last week, the cotton fetched Rs 8,800 per quintal.”
Similarly, Gurjeet Singh, a cotton grower, said, “The cotton prices are expected to go up further. We will wait for a few days to take our produce to mandi.”
Huge demand in international market
The local spinning industry has got orders in bulk from abroad, especially from China, which is the largest importer of the crop. Bhagwan Bansal, industrialist
Cotton sells at over Rs 10,000 per quintal in Gidderbaha
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