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Karimnagar cotton farmers may lose money over trade war

Aug '19
Pic: Shutterstock
Pic: Shutterstock
Farmers in Telengana’s Karimnagar district will spend about ₹330 crore by the time their cotton crop is ready to be harvested. At the half-way mark, the farmers have invested ₹129.58 crore. They may not be in a position to recover their investments if the prediction of a US-China trade conflict pushing down cotton prices proves to be correct.

Farmers sowed cotton on 1,07,987 acres against the norm of 1,27,420 acres. With all inputs turning costlier, the investment per acre is ₹30,000-35,000.

The farmers expect an average of eight quintals of cotton from each acre. In the previous Rabi season, the Cotton Corporation of India purchased cotton from farmers by fixing minimum support price at ₹5,350 per quintal for high quality cotton, whereas private agencies offered ₹4,500.

Officials are unable to estimate the output this time as well as the extent of price deterioration in the global market, according to a report in a prominent English-language newspaper in the state.

If farmers face the risk of price downturn, the government needs to take steps like building confidence among the cotton growers and fix remunerative support price as well as provide support packages. (DS)

Fibre2Fashion News Desk – India

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