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Cotton arrivals pick up in Punjab mandis

Cotton arrival has picked up in Punjab mandis despite heavy rainfall in the region last week and farmers are getting prices in the range of Rs 5,300 to Rs 5,600 per quintal, which is higher than previous year’s Rs 4,300- Rs 4,600 per quintal. Though arrival started about a fortnight ago, it has started picking up over the last three days.

Cotton purchase started with Rs 5,600 a quintal initially when only 250-400 bales a day was coming in the region. However, now the prices have crashed to nearly Rs 5,300 a quintal, which is below the MSP. But only private players are in the market.

A few farmers are selling the early-picked stock below the MSP, but the Cotton Corporation of India (CCI) has not yet stepped in, CCI did not purchase any Cotton from Punjab market for the past two years and even this year, so far they have not made a single purchase.

Meanwhile, sources in the CCI office it was revealed that on an average daily arrival of Cotton in the region is between 4000- 5000 Cotton bales, and so far 34,000 Cotton bales have arrived in the Punjab mandis.

 

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