Punjab: Sold above MSP, cotton arrival up in mandis

Being purchased at Rs7,000 per quintal

Punjab: Sold above MSP, cotton arrival up in mandis

Due to high demand and better price given by private players, Punjab has seen a manifold rise in the arrival of cotton crop at mandis as compared to last year.

Bathinda, September 23

Due to high demand and better price given by private players, Punjab has seen a manifold rise in the arrival of cotton crop at mandis as compared to last year.

Despite the attack of pink bollworm on the crop in the region, farmers are buoyant as private players are purchasing cotton way above than the minimum support price (MSP) fixed by the government this season. The government has increased the MSP of cotton from Rs 5,725 to Rs 5,925 per quintal, but private players are purchasing cotton at around Rs 7,000 per quintal.

As per the Punjab Mandi Board, various mandis in the southern Malwa belt have witnessed arrival of 80,000 quintals of cotton till September 22, 2021, against arrival of around 1,600-1,700 quintals cotton during the previous season. Of these, Bathinda and Mansa have witnessed arrival of 27,000 and 12,000 quintals, respectively.

As per industry experts, after stagnating during the pandemic, the textile industry has begun to recover and the demand for cotton has risen. It is expected that consumption in 2021 will grow faster than the supply. This is the major reason that private players are procuring cotton at a high price this season. A cotton mill official said, “We want to meet the increased demand and anticipating an uncertain market ahead, we have decided to purchase cotton way above than the MSP. We are not waiting for the price to come down to make a purchase.” — TNS

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