CCIS: 1801 Cotton prices cross Rs 5,000 at Ralegaon market

Yavatmal: The price of cotton, the main cash crop of the rain-fed Vidarbha region, is set to touch a new high in the next few days as raw cotton was purchased by private traders at the Ralegaon market at Rs 5,050 per quintal on Monday.
According to Agriculture Produce Marketing Committee (APMC) chairman Praful Mankar, the cotton purchase started in the ranging of Rs 4,000-4,500 per quintal in the current season. However, it has gradually increased and it crossed the Rs 5,000 mark on Monday.
"We are expecting the price to go up to Rs 6,000 per quintal this year," he said, adding that farmers from far off places are also coming to the Ralegaon market, where the price is stable, the weighing system is faultless and the payment is prompt.
There are seven ginning factories with a good collection network here. Traders from other parts of Vidarbha region are also coming to Ralegaon to procure cotton.
It is pertinent to note that the government-run procurement centres are not getting any cotton due to the high open market rate. The government is not ready to hike the MSP beyond Rs 3,500 per quintal despite the prevailing global demand.
Over 2.7 lakh quintal cotton has been procured at Ralegaon alone so far, and over a lakh quintal cotton arrival is anticipated in the coming days, informed vice chairman of APMC Rajendra Thelange. APMC officials have urged farmers to lodge complaints with them if there is any sort of exploitation on the part of graders and traders.
Meanwhile, the Union government has extended the export deadline till March 11. However, there is no sign of lifting the ban on the limit of 55 lakh bales for export.
Dr NP Hirani, chairman of the marketing federation, has welcomed the decision to bring the licencing authority to the commerce ministry from the cotton commissioner under textile Ministry. Dr Hirani has however demanded issue of new export licences on the basis of prevailing global market rate, as the earlier licences were given at the rate ranging between Rs 35-37,000 per candy, which has now gone beyond Rs 62,000.
The cotton growers are set to have a good time ahead if 'fadtar' (low quality cotton) can be harvested as per the CAB (Cotton Advisory Board) survey report.
(Source: http://timesofindia.indiatimes.com/city/nagpur/CCIS-1801-Cotton-prices-cross-Rs-5000-at-Ralegaon-market/articleshow/7308130.cms)