Even though textile industry of the country is facing tough time due to international trade crunch, agriculture sector, especially cotton is contributing its share to help tackle the problem.
Cotton yield this year had been really good, resulting in high exports of cotton.
With the arrival of new cotton at the Jammikunta agricultural market yard, farmers are able to secure around Rs3,200 per quintal for A grade cotton from private traders, although Minimum Support Price (MSP) is fixed at Rs3,000.
In an exclusive interview with Fibre2fashion, Mr T Sammi Reddy, Chairman, Jammikunta Agricultural Market Committee, told, “Ginners and traders are procuring cotton directly from the farmers, and due to high demand they are ready to obtain even at higher prices. For the grade B quality cotton, the farmers are getting Rs2,600 per quintal where as the MSP is Rs2,500 per quintal.”
Mr Reddy further informed that cotton production this year had been on the higher side. Till now around 20,000 quintal of cotton has arrived in the market and around 0.4 – 0.5 million quintal of cotton is expected in the whole season.
Around 10,000 – 12,000 quintal of cotton worth Rs10 million is purchased at Jammikunta Agricultural Market on daily basis.
Fibre2fashion News Desk - India
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