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Cotton growers rejoice with soaring commodity prices
16
Feb '11
For long it has remained a trend that, the cotton marketing season is marked with price disagreements, with the cultivators holding back their crops and the buyer's blaming them for side-sales.

But this time, reversing the trend the cotton industry has marked the arrival of the new marketing season optimistically with soaring prices of cotton lint in the global markets, which has evolved new hope for more than two lakh cultivators.

The crop reaped an average seasonal price of US 77,54 cents per pound during the 2009-10 season. But then, as the prices hit a record high of 190,70 cents per pound on January 25 this year, and this has considerably raised the current season's average price to 135,72 cents per pound.

With such firm prices, the cotton farmers now have a chance to come out of the vicious circle of poverty in which they have been trapped over the years due to less revenues coming in from their crops.

Also, because of the favourable weather conditions, the country's overall seed cotton production for the current season is expected to rise by over 30 percent, while the overall lint production is expected to exceed 1.2 lakh tons, higher than some 1.1 lakh tons recorded during last season.

However, the last season was categorized with stalemate prices as the contractors were acquiring the cotton produce for as low as 30 cents per kg, thus driving the cotton cultivation unviable and cultivators intimidating to give up cotton production. But then, it was the sole hope of cotton prices improving some day, that sustained the farmers in cotton production, and luckily that had materialized.

The average commodity price for the crop during the corresponding period last year was recorded at 76,60 cents per pound, while it was 59 cents per pound during same period in the 2007-08 season.

The country's overall cotton production declined from a high level of 333,000 metric tons in 2004 to 207,000 tons in 2009, which happened mainly due to meagre investments in the basic materials, owing to the apprehensions and the risks attached with sponsoring the cotton cultivation.

Fibre2fashion News Desk - India


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