Commodity News
HeadLine : Cotton arrival in Punjab mandis slower than last year
Date : Oct 6 2022
More than a month after cotton harvesting commenced in Punjab, the semi-arid districts are witnessing a decline in arrival by five times than the last kharif marketing season. Market watchers attribute sluggish arrival to a plunge in the prices for the ‘white gold’ in the last two weeks due to the ongoing low demand in the international market. They say farmers are holding back the non-perishable produce for higher rates. According to information available with the Punjab State Agricultural Marketing Board or the mandi board, various districts of the semi-arid region of Punjab recorded the arrival of 46,000 quintals this season by October 4. Whereas in 2021, different purchase centres had registered the arrival of 2.33 lakh quintals by October 4. For the 2022-23 kharif marketing season, the Centre has fixed the minimum support price (MSP) for cotton at Rs.6,380 per quintal. The purchase season of Cotton Corporation of India (CCI) starts on October 1. CCI officials said it is unlikely that the central agency will enter the market for the second consecutive year as the private sector is buying the raw cotton at rates higher than the MSP. A cotton grower from Bathinda’s Bajak, Baldev Singh said farmers are hoping that rates will improve in the coming weeks. In 2021, Punjab witnessed the first-ever infestation of pink bollworm that crashed cotton production drastically. In the last kharif season, Punjab produced 22 lakh quintals of cotton, whereas, during the 2020-21 period, all seven districts of the state produced over 49 lakh quintals of white gold. President of Indian Cotton Association Limited (ICAI), a body of those dealing in the export, spinning, ginning of cotton, Mukul Tayal said the industry expects production of 6 lakh bales or 30,000 lakh quintal cotton in Punjab. 

Source: Hindustan Times
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