Omicron Virus (Pandemic scare), poor quality lowers cotton rates by ₹1,500 per quintal

04 December 2021,  Mumbai:

Industry watchers say in the last one month, moderate or the maximum average price of the Kharif produce was about ₹9,500 per quintal

The sudden dip in the global demand due to the pandemic scare and poor quality of raw cotton in areas of Punjab has lowered rates of the Kharif crop by up to ₹1,500 quintal in the last two weeks.

But farmers continue to get much above the minimum support price (MSP) of ₹5,925 per quintal.

Industry watchers say in the last one month, the moderate or the maximum average price of the Kharif produce was about ₹9,500 per quintal. It means 70% of the crop was purchased at around ₹9,500 and nearly 10% of the best quality product was sold even higher than ₹9,500. And nearly 20% was sold below the moderate due to poor quality.

However, the moderate of cotton in the last 10 days remains static at about ₹8,000 per quintal.

According to the Punjab Mandi Board data, 9.57 lakh quintal of cotton was purchased in the state till Saturday. Of that, only 5,545 quintal produce was bought by the private players below MSP.

HT (The news article has not been edited by DFU Publications staff)

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