Major crops may rule stable prices: Market Intelligence Centre
The price forecast is based on the monthly modal price data obtained for 6-22 years from major markets of agricultural and horticultural commodities.
Hyderabad: Even as the Ministry of Agriculture and Farmers’ Welfare is halfway through the process of finalising the minimum support price for the mandated agriculture crops in the country for the year 2024-25, the Agriculture and Market Intelligence Centre of the Prof Jayashankar Telangana State Agriculture University has given its price forecasts holding out hope for the farmers.
The Market Intelligence Centre, which is supported by a price forecast mechanism in the Department of Agriculture Economics, made it clear that the prices of the principal crops grown in the State would be more or less stable and in respect of certain crops, the market prices would be marginally higher compared to the Vanakalam marketing season last year.
The price forecast is based on the monthly modal price data obtained for 6-22 years from major markets of agricultural and horticultural commodities. They are based also on the market survey covering farmers and traders. The crop area during Vanakalam this year is likely to cross 1.52 crore acre mark, if seasonal conditions favour the farmer. Paddy being the major Vanakalam crop, it was expected to be raised in over 66 lakh acres while cotton was projected to be in the order of 55 lakh acres.
As per the pre-sowing price forecast made by the Market Intelligence Centre, the common varieties of paddy will stand to gain marginally commanding prices ranging from Rs.2203 to Rs.2350 per quintal during the months of November and December, when the harvest is expected. The Grade A varieties of paddy would be able to fetch Rs.2290 to Rs.2680 per quintal. In fact, India has adequate stocks of paddy. The curbs on export of certain varieties had a dampening effect on the market.
As for cotton, the area under the crops is expected to cross the 55 lakh acre mark, some 22 per cent more than last year. Cotton was expected to command a price raging from Rs.6600 to Rs.7200 per quintal by the time of its harvest from November to February next. Chilli is another major crop relied upon by the growers in the State. Chilli is expected to command a price that will be ranging from Rs.14,500 to Rs.16,500 in the months of January to March 2025.
MSP announcement likely next week
Prof R Vijaya Kumari of the Prof Jayashankar Telangana State Agriculture University said the Ministry of Agriculture was expected to announce the MSP for the 22 mandated crops next week. The price forecast made by the Market Intelligence Centre was a simultaneous exercise. The deviation in projects would be five to ten per cent and in some cases it may be less than five percent, she said.
Cotton prices ruled below Rs.7000 per quintal throughout the season last year barring brief spells when it fetched more than Rs.10,000 or more per quintal. There could be a marginal rise in cotton prices from now on till the next harvest, she added.
