Good response to cotton auction

Updated - April 19, 2015 05:36 am IST

Published - April 19, 2015 12:00 am IST - SALEM:

The cotton auction at the Konganapuram branch of the Tiruchendur Agriculture Producers Cooperative Marketing Society held on Friday and again on Saturday has evoked good response.

About 12,000 bags of cotton were auctioned for Rs. 2 crore at the society on Saturday and about 11,000 bags for Rs. 1.80 crore on Friday.

While the price of PT variety ranged between Rs. 3,850 and Rs. 4,550; the price of DCS variety ranged between Rs. 4,200 and Rs. 4,850 on both the days.

The farmers from the districts of Salem, Dharmapuri, Krishnagiri, Namakkal and Tiruvannamalai had brought the stock. Following good response, cotton auction will be held for the third consecutive day on Sunday too, the Society sources told The Hindu .

The cotton auction is usually held once a week only on Saturdays.

The cotton auction at the Konganapuram Society remained suspended for a month in March due to paucity of space following the failure of the traders to remove the auctioned stock. About one lakh bags of cotton worth Rs. 30 crore which was stocked in the godown and the yard of the Society during last month, was cleared only in the first week of April. Following this, the auction was resumed for three days last week i.e. April 10 - 12.

The cotton auction will be held hereafter every week regularly, the sources said and called upon the farmers and traders to take part in the same as usual.

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