Warangal: In a welcome development for cotton farmers, the price of cotton touched a record high of Rs 8,105 per quintal at the Enumamula Agriculture Market here on Wednesday.
According to official sources, this is the highest price since the start of cotton procurement on October 1 this season. Farmers had brought in over two lakh bags of cotton at Asia’s largest market till Wednesday afternoon. While the lowest price was Rs 6,025 since the beginning of the season, on Tuesday, superior quality cotton commanded a price of Rs 7,960 per quintal and medium quality was sold at Rs 7,850 per quintal that further shot up to Rs 8,015 per quintal on Wednesday.
The cotton price ranged between Rs 7,500 and Rs 8,000 per quintal. “Due to the heavy rains that lashed the State last month, cotton yield came down drastically. This is one of the reasons for the record price,” a market official said. In June this year, cotton was sold at Rs 7,000 per quintal. Traders said there was high demand for cotton in the international market too.