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Triple jump in cotton support price, farmers delighted
20 Apr '11
2 min read
Cotton industry stakeholders have fixed US 85 cents as the minimum price for cotton lint for the current 2011 marketing season. This is a significant rise over the last year's minimum price of 30 cents.
Cotton farmers would offer their produce at this price; however, the licensed buyers are not barred from paying higher prices for the commodity.
From September 30, 2011 onwards, the cotton cultivators would start getting differential grade prices, like A grade would attract a delivery price of $1.05 per kg, B grade would fetch 96 cents, C grade 89 cents and D grade 85 cents.
A statement released by the Cotton Marketing and Technical Committee (CMTC) revealed that, cotton cultivators need to appoint graders who would represent them at each grading point, and ensure that gradation has been done correctly.
After getting the grading results, if the farmers are not satisfied with the same, they are free to appeal.
The CMTC incorporates representatives of the clothing and textile industry, cotton growers, oil expressers and the Government. Further, in order to ensure accountability, the ginners would be required to disclose the details of their monthly lint sales before the Committee.
Over and above the attractive minimum price, the farmers have also been entitled to a 50 percent share in the ginners' profits, which would become payable by November 30, 2011.
Editor's comment – Considering that in previous years, cotton farmers gave up cultivating the white gold, due to not receiving remunerative prices, this jump in minimum support prices will go a long way in encouraging more and more farmers to cultivate cotton and lead to increased cotton acreage.
Cotton farmers would offer their produce at this price; however, the licensed buyers are not barred from paying higher prices for the commodity.
From September 30, 2011 onwards, the cotton cultivators would start getting differential grade prices, like A grade would attract a delivery price of $1.05 per kg, B grade would fetch 96 cents, C grade 89 cents and D grade 85 cents.
A statement released by the Cotton Marketing and Technical Committee (CMTC) revealed that, cotton cultivators need to appoint graders who would represent them at each grading point, and ensure that gradation has been done correctly.
After getting the grading results, if the farmers are not satisfied with the same, they are free to appeal.
The CMTC incorporates representatives of the clothing and textile industry, cotton growers, oil expressers and the Government. Further, in order to ensure accountability, the ginners would be required to disclose the details of their monthly lint sales before the Committee.
Over and above the attractive minimum price, the farmers have also been entitled to a 50 percent share in the ginners' profits, which would become payable by November 30, 2011.
Editor's comment – Considering that in previous years, cotton farmers gave up cultivating the white gold, due to not receiving remunerative prices, this jump in minimum support prices will go a long way in encouraging more and more farmers to cultivate cotton and lead to increased cotton acreage.
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