Farmers in Karaikal Feel Relieved as Cotton Prices Rise
By ashish wagh 2024-06-25 12:50:17
Farmers in Karaikal Feel Relieved as Cotton Prices Rise
Karaikal farmers have found relief as cotton prices have improved, surpassing the minimum support price (MSP) at the regulated market on the first day of auction. This forced private traders to increase their prices as well.
In recent weeks, cotton prices had fallen below ₹50 per kilogram in the open market in Karaikal. However, on Saturday, the weekly cotton auction began at the Agriculture Department’s Regulated Market in the town, and the price of cotton rose to ₹68 per kilogram, compared to the MSP of ₹66 per kilogram. As a result, private traders offered ₹62 per kilogram on Sunday in the district.
Approximately 85 quintals of cotton were brought to the Regulated Market by farmers. The maximum price reached ₹7,190 per quintal, with a minimum of ₹6,289 and an average of ₹6,739 per quintal, according to J. Senthil, Secretary of the Karaikal Marketing Committee.
Mr. Senthil credited the presence of mill representatives from Tamil Nadu for the good rates farmers received. "We have learned that private local traders have now increased their prices. We urge farmers to take advantage of the weekly Saturday auctions," he added.
N. Palaniraja, a farmer from Melaoduthurai village, expressed satisfaction with the outcome. "Earlier, traders offered only ₹45 to ₹52 per kilogram. We waited to sell our produce through the regulated market and are happy with the good price we received. Farmers are often cheated by middlemen, so we appreciate the Regulated Market’s efforts in organizing the auction," he said.
