*Cotton prices in Punjab hit an all-time high, cross ₹10,000 level*
*Due to the increasing demand for Indian yarn in the global market, cotton prices may see a further rise.*
*About 2,080 quintals of cotton were procured by private buyers in Muktsar on November 1 and so far 1.31 lakh quintals have been sold in the district.*
*The "white gold" crop touched a record breaking rate of Rs 10,500 per quintal on the first day of November, three days after official estimates of heavy losses in raw cotton production this year.*
*According to the official data of Punjab Mandi Board, the rate of cash crop in Muktsar was told in five digits on Monday.*
*It was not confirmed how much quantity was procured for the historical rate of ₹10,500 per quintal, which was 77% higher than the minimum support price of ₹5,925 fixed by the central government for the 2021-22 kharif season.*
*Industry sources said this is the first time that cotton prices have crossed Rs 10,000.*
*Due to the ongoing high demand for Indian yarn in the global market, the prices are likely to see a further rise.*
*About 2,080 quintals of cotton were procured by private buyers in Muktsar on November 1 and so far 1.31 lakh quintals have been sold in the district.*
*Districts growing semi-arid cotton reported sales of 6.35 lakh quintals till November 1.*
*In the 2020-21 season, Punjab produced about 50 lakh quintals of cotton.*
*Before cotton harvesting began, the industry and the Cotton Corporation of India, a central-government agency, had estimated rates higher than the MSP based on market trends.*
*However, the deadly pink bollworm infestation in major cotton growers Bathinda and Mansa dashed the hopes of farmers.*
*Today 11,258 quintals of cotton were sold by the farmers in various mandis of South Malwa district.*
*The Punjab government has described Bathinda and Mansa districts as the most affected by the pink bollworm attack, with rates between Rs 9,600 and Rs 9,330 per quintal.*
*Till November 1, Bathinda has bought 1.30 lakh quintals and private buyers 1.43 lakh quintals.*
*This season, Fazilka, which remained unaffected by the pest attack, is leading with 2.12 lakh quintals and the cotton rate on Monday stood at ₹8,800-9,095 per quintal.*
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