Agro News | Good news for cotton farmers! After all, white gold at 8,000 rupees, will the rate increase further?

Agro News : Special news for cotton growers. Because now cotton rates are slowly increasing. In fact, from January 1, cotton import duties have come into effect once again.

The central government had waived 11 percent duty on cotton imports to boost the textile industry. Due to this, cotton prices remained under pressure last year.

Cotton started arriving in the markets of the state from Vijayadashami but the market prices continued to be under pressure. As there was no import duty, cotton was being imported in large quantities in the country.

But now the import duties have been implemented once again and as a result of this, the rate has been revised from January 1. Today, in some markets of the state, the rate of cotton has reached Rs 8000.

The average market price of cotton has also reached around the guaranteed price and hence there is an expression of satisfaction through the producers. Also, farmers have a naive expectation that it will increase further in the coming time.

Experts have also said that conditions are currently favorable for cotton price hikes. Today, in the Akot Agricultural Produce Market Committee, which is famous as the cotton market, it was reported that cotton fetched a record price of up to eight thousand rupees per quintal.

In the last twelve-thirteen days, the price of cotton has gone up to Rs. In fact, record imports of cotton are likely this year, but since domestic cotton production has declined, even if imports continue to rise, a strong base for price hikes is likely to remain.

Nearly 32 lakh bales of cotton were imported into the country till December 31. Also, there is a possibility of importing another two million bales of cotton in the coming period. Meanwhile, in such a situation, cotton rates have increased from Rs 500 to Rs 1000 in the open market.

Due to this, CCI has also increased the rate of purchase of cotton from Rs 800 to Rs 1200. This decision of CCI is also affecting the cotton market price. Also, during the last seven days, the rates of sarki have increased by 300 to 400 rupees.

Meanwhile, there is a possibility of further boom in the coming time. Due to this, the cotton market price may remain bullish for the next few days. Therefore, it is estimated that the price of white gold may increase further.