The new cotton crop for the season 2022 has started hitting markets, although in smaller quantities but with encouraging prices for the farmers at around ₹11,000-12,600 per quintal.
According to trader sources, the old crop of cotton quoted at around ₹12,000 per quintal, whereas the new cotton crop is only a tad lower than that. "Looking at the crop condition, we expect good crop this year. The new season for cotton has started with encouraging rates for farmers," said Vinubhai Ratandhayra, a cotton trader at Amreli APMC.
Notably, cotton arrivals are reported in smaller quantities in key markets of Saurashtra such as Amreli, Gondal and Rajkot, whereas markets in Mahuva, Jamnagar have not reported cotton arrivals yet. "There is still time for full-fledged cotton arrivals. What we see is the early sown cotton in smaller quantities. The arrivals will gain momentum in later part of September," said the trader source.
On Thursday, in Rajkot markets, the new cotton crop arrivals were reported at 25 quintals with price hovering between ₹10,500-12,030 per quintal. At Gondal market yard, new cotton crop arrivals were recorded at 44 quintals with prices ranging between ₹9,755 per quintal to ₹12,655 per quintal.
‘Muhurat trading’
In Amreli APMC, Shri Vallabhkrupa Trading Co conducted a 'muhurat trading' of new cotton crop. The price quoted in the muhurat auction stood at ₹11,250 per quintal. "A day ago, the auction fetched as high as ₹30,000 per quintal for raw cotton. But these are indicative rates to give encouragements to the growers. The real market rates may settle only when we see larger scale arrivals, may be later in September," said Ratandhayra.
Farmer sources revealed that the cotton crop condition was good with first picking bringing promising returns for the growers. "So far there have been no significant reports of damage due to pest attacks. We need to be watchful for the next few weeks and climate needs to support with no rains during October. If all goes well, we hope for a good crop," said a farmer from Morbi district.
Notably, in North India, the cotton arrivals had begun from early August and there were initial reports of damage due to pink bollworm in areas of Punjab. Moist weather during the time of harvest in northern parts of Haryana, Rajasthan, besides Punjab, also impacted the cotton quality.
Gujarat, the largest grower of the fibre crop, has so far not reported any widespread damage due to pink bollworm.