Increase in the price of soft cotton in Srikaranpur
Ramesh Bansal, Chairman of the Srikaranpur Municipality and a leading cotton trader at the grain market, cited several reasons for this surge in cotton prices. He explained that the central government had waived the import duty on cotton during October, November, and December. However, an 11 percent import duty was reimposed from January 1st.
According to Bansal, the increasing demand for cotton from textile factories is also a major factor contributing to the price increase. These factors have led to a continuous upward trend in cotton prices in the market.
Rakesh Dhuria, manager of shop number 179, M/s Karam Singh Harnek Singh, at the grain market, provided details of a specific sale. He stated that Balraj Singh, son of Avtar Singh Gill, a resident of Moda, had brought his cotton to their shop.
Due to the high quality of the cotton and the prevailing market trend, Balraj Singh's cotton was sold at a rate of Rs. 7796 per quintal. Approximately 20 quintals of this consignment were purchased by M/s Baburam Ramswaroop and another 20 quintals by M/s Singla Industries. This surge in cotton prices has created a positive atmosphere in the market.
