Big Turn in Cotton Prices: Extension of Procurement Period Brings Relief to Farmers
There is positive news for cotton farmers as the Central Government has extended the procurement period for cotton at the Minimum Support Price (MSP) in Maharashtra. This extension has provided farmers additional time to sell their produce, and market activity is expected to improve in the coming days.
Until about a month ago, cotton was fetching good prices in agricultural markets across the district. Due to active buying by private traders and local demand, prices had reached around ₹8,500 per quintal.
However, with a decline in demand, prices started to fall. At present, cotton is being sold in mandis at around ₹7,000 to ₹7,200 per quintal.
Due to the price drop, many farmers have chosen to store their cotton instead of selling it, hoping for better rates in the future as market demand improves.
Earlier, the last date for procurement by the Cotton Corporation of India (CCI) at guaranteed MSP was fixed as February 27. With the deadline approaching, farmers expressed concern and demanded an extension of the procurement period.
Responding to these demands, the Central Government has extended the MSP procurement period till March 15. This decision has brought significant relief to cotton growers.
With current market prices remaining low, many farmers are now expected to sell their produce at CCI procurement centers to secure guaranteed MSP rates. As a result, cotton arrivals at these centers are likely to increase in the coming days.
At present, CCI is procuring cotton at nine centers in the district, including Chikhalgaon, Borgaonmanju, Akot-1, Akot-2, Chohotta Bazaar, Telhara, Paras, Barshitakli, and Murtijapur.
Overall, this extension has provided timely relief to farmers. Meanwhile, market committees and private traders believe that cotton prices may improve in the near future, and farmers continue to closely monitor market trends.
