Cotton price continues to skyrocket in Adilabad
Adilabad: In a record of sorts, the price of cotton continues to go up in Adilabad, cheering growers of the crop. The phenomenon can be attributed to high demand in the international market for the cotton, following poor yield of the crop in different countries across the globe. While the Cotton Corporation of India (CCI) […]
Adilabad: In a record of sorts, the price of cotton continues to go up in Adilabad, cheering growers of the crop. The phenomenon can be attributed to high demand in the international market for the cotton, following poor yield of the crop in different countries across the globe.
While the Cotton Corporation of India (CCI) is paying Rs 6,025 per quintal of fine quality cotton, private traders of Adilabad town and different parts of erstwhile Adilabad district are vying with each other to grab the produce at much higher prices. The traders are offering over Rs 8,000 per quintal. They quoted Rs 8,430 on Wednesday and Rs 8,600 in certain places on Friday.
Adilabad district is one of the largest producers in Asia. According to information provided by authorities of the Agriculture department, cotton crop was raised in 3.90 lakh acres across Adilabad district and the yield was expected to be 27 lakh quintals this season. Around 5,000 metric tonnes of the cotton has been procured by ginning mills and agriculture market yards.
It is learnt that private ginning mills have been making bales and storing them in their warehouses expecting huge returns. They are not hesitating to increase the price furthermore in the coming days, considering unprecedented demand for the cotton. It is said that the price would touch Rs 10,000 in this season.
The growers are not coming forward to sell their produce, hoping that they would get more profits once the price is raised. They are storing it in their houses by taking precautions to prevent damages caused by moisture. They are upbeat over the unusual surge in the price of the cotton in the history of the district.
Meanwhile, tribals and farmers of forest fringe villages are disappointed as they were not to till forest lands with the forest department reclaiming the fields this year.
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