Raw cotton prices have fallen below Rs 7,000 per quintal due to low demand in the mandis of Vidarbha region. Rohit Rander, a leading cotton trader, said farmers who had stockpiled cotton expecting a rise in prices are selling in panic. Rander further said that there is an overall bearish trend in the global markets. Spinning mills and traders are also maintaining low stock and inventory this season.
At present, the price of raw cotton is being told in the range of Rs 6,900 to 7,000 per quintal depending on the quality. In October-November 2022, when supplies of raw cotton this season started, prices were at their all-time high of Rs 9,000-9,500 per quintal. Farmers' hopes were dashed when cotton prices did not rise above Rs 10,000 per quintal mark like last year. Presently there is excess supply in mandis and prices are falling. Last season, raw cotton prices touched a record high of Rs 13,000 to Rs 14,000 per quintal in April-May 2022.
Rander said raw cotton prices were high in India as compared to international prices, due to which exports were low. Indian raw cotton prices should be at least 10 per cent lower than the prices in the US to make exports favourable. India mainly exports raw cotton to Bangladesh, China and Vietnam. He said that taking stock of the situation, the prices are expected to fall further by Rs 200 to Rs 300 per quintal.
ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗
https://smartinfoindia.com/newsdetails/2453
Regards
Team Sis
Any query plz call 9111677775
https://wa.me/919111677775
