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Cotton prices gained Rs 1,180 a quintal at the Bhoodapady Regulated Market Committee (RMC) on Wednesday.
“As expected, the arrivals have increased to 1,428 quintals during this week against 1,114 quintals last week. Similarly, the price of the Surabi cotton was increased by Rs 1,180 a quintal more than last week price. Because of the quality the buyers from Salem, Coimbatore and Annur and also some spinning mills have quoted higher prices and purchased all the arrived goods,” said the RMC authorities. They also said that the price of Bt Cotton also increased by Rs 400 a quintal. They said that they are expecting further increased price from next week. This year though the cultivable area has decreased due to drought, the cotton growers will get higher price for want of demand.
The Surabi cotton was sold at Rs 6,200-6,550, Bt cotton fetched Rs 5,000-5,500 a quintal. All the 1,128 quintals were sold.
Similarly, at the Anthiyur RMC the arrival of cotton on Wednesday was increased and 5,280 bags (roughly 2,100 quintals) arrived for sale and the Surabi cotton was sold at Rs 5,100-5,380 a quintal, Bt cotton Rs 4,800-5,100 a quintal.
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