22 lakh quintals arrive at various market yards
CCI desisted purchase when cotton soaked in water was brought to the marketIt also stopped purchase when its processing units were overloaded with work
ADILABAD: Despite the ups and downs in cotton price, the quantum of cotton trading has been almost similar to that of last year in Adilabad district. Against last year's arrival of 25 lakh quintals of cotton, over 22 lakh quintals have already been recorded at different market yards in the district till February-end. The season is estimated to pull on for a month more, according to insiders.
The Cotton Corporation of India (CCI), which was expected to be a major purchaser of cotton in the district, could not purchase more than 48,000 quintals this year at minimum support price (MSP). Last year it had purchased nearly 11 lakh quintals against the privately purchased 14 lakh quintals. This year, private parties purchased over 17 lakh quintals.
Two inter-linked factors influenced cotton trading season this year. The question of remunerative price figured for most part of the season.
Also, the question of quality of arrivals was a point of much debate.
Price of cotton firmed up in December and early January. Good quality cotton attracted even over Rs. 2,200 per quintal during this period. The current price hovers around Rs. 1,900 per quintal.
The CCI had purchased cotton in fits and starts mainly due to questionable quality of cotton. It had desisted purchase when cotton soaked with water was brought to the market.
It also stopped purchase whenever its processing units were over loaded with work.