The price of cotton has risen by Rs. One lakh came out, Rs. 1.04 lakh

Cotton has literally become white gold. Cotton prices on Friday hit Rs. One lakh per sugarcane was crossed. The stockists sitting to keep the goods demanded Rs. He sold the surplus super quality cotton he had for Rs 1.04 lakh. Sources said quality spinning mills in the south had bought at top prices. The current […]
 


The price of cotton has risen by Rs.  One lakh came out, Rs.  1.04 lakh

Cotton has literally become white gold. Cotton prices on Friday hit Rs. One lakh per sugarcane was crossed. The stockists sitting to keep the goods demanded Rs. He sold the surplus super quality cotton he had for Rs 1.04 lakh. Sources said quality spinning mills in the south had bought at top prices. The current season has been golden for cotton stockists. At the beginning of the marketing season, he was paid Rs. In the off season, almost 100% returns are being given at prices of around Rs 55,000.

The current season is also going to be special for the farmers. Rupee. According to sources, the farmers waiting for one lakh rupees are still in no hurry to sell their produce. He was given Rs. Prices are rising at Rs 2600-2700 per gram. Which is more than double compared to last season. However, in view of the shortage of goods in the market, they are in no hurry to sell the goods. Globally, the situation is likely to remain tight and that is the reason why cotton continues to boom. New York futures prices remain firm due to lack of rain in Texas, USA. Whereas there is a dearth of quality goods locally in India. The recent depreciation of the rupee against the dollar has also given a boost to domestic prices as cotton imports have become more expensive.

Two weeks ago, the government abolished duty on cotton imports till September. 95 thousand to Rs. The deal was done for around one lakh. Supplies will enter the Indian market in June. Unless the local mills had to buy local goods. For which he has to pay premium. The cost of regular goods is Rs. Are seen in the range of 99 thousand to one lakh. Cotton cost Rs. At the beginning of the season, no one even thought that it would be bid in one lakh. However, the prices have been rising continuously for the last eight months. Whereas in June 2020 Rs. It has corrected from the 32,000 level. Globally, the shortage of stocks is being blamed for this. Although according to the circles, farmers and traders have the goods but they are sitting with a strong hold. After a good rain, they will come to sell the goods in the market. Many stockists are currently making their deliveries.

Meanwhile, cotton cultivation has started in full swing in North India. Sowing of cotton has also started in irrigated areas of Gujarat and Rajasthan. According to market sources, in the new kharif season, a large area of ​​cash crops including groundnut and soybean is being cotton. This is because farmers are getting the highest return on cotton at current prices.