Traders in Maharashtra estimate that farmers will bring cotton in bulk in the next two to three weeks. The signs of farmers running out of cotton are now visible. Farmers who are expecting a rise in prices but cannot wait much longer are selling cotton. The price in Amravati market committee is Rs 8050 to 8100 per quintal.
Cotton prices were under pressure in the month of March. Farmers who had no option but to sell cotton, sold it till March. But knowing that the farmers could not wait much longer, the traders kept the prices down in the market.
Meanwhile, farmers increased sales as they felt prices were not rising. But when it was realized that farmers with storage capacity would not sell cotton unless the price was increased, the price was raised. Still, it is estimated that 20 to 25 percent cotton is left with the farmers.
Three crore bales have been produced in the country. According to this, now 60 lakh bales of cotton are left with the farmers. If the farmers of Maharashtra are to be believed, they have 20 per cent stock left. It is estimated that 775 lakh quintals of cotton is left for 15 lakh bales. Needy farmers will sell cotton for Kharif. Big farmers will keep stock in anticipation of price rise.
Cotton arrivals marginally increased in the market last week due to marginal correction in prices. Now traders are estimating how much cotton is left with the farmers. The prospects of a price rise have turned a bit hazy. Cotton season is in its last leg, so the market remains volatile at this time. But the price has closed at an average of eight thousand rupees.
The Cotton Association of India has predicted that the state will produce 78 lakh bales of cotton this year. Last month's production was estimated at 80 lakh bales. It has subsided now.
The average price of cotton in March and April last year was Rs 9,300 per quintal. At some places this rate went up to 10,000. Cotton is yet to get that price this year. This is what farmers were expecting this year, but the fluctuating prices have started confusing them.
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