Cotton turns white gold as demand rises to around Rs 12,000

Yavatmal: The cotton farmers of Yavatmal are really happy with the ever-increasing rise in the price of white gold for those who have cultivated the crop this year. Right now the market price of cotton has touched around Rs 11,800 per quintal on Saturday, which is also historic. This is the first time that cotton has been sold at such a high price.

Earlier the price was almost below Rs 7,000 per quintal. Last year in the month of December the price of cotton was around Rs 6,000. However, due to global demand, prices have started to rise significantly.

Major cotton-producing countries like USA and China have experienced low production after which textile industries have started buying cotton from India. In the last fortnight, the price of cotton has increased by about Rs 1500 per quintal.

Right now private traders in search of cotton have started knocking on the doors of farmers and are offering around Rs 11,000 per quintal on the spot as per sources.

Farmers take loans from private moneylenders

The price of cotton will go up even more and those who store the cotton will definitely benefit a lot.

Even the cotton bales are getting very good prices right now (Rs 90,000, earlier around Rs 70,000).

Along with this, cotton seeds are still being sold for around Rs 4,800, earlier the price was around Rs 4,200 per quintal.

Farmer Avinash Deshmukh has said that this is also an unprecedented rate and those who have cotton will also get rewards.

According to Avinash Deshmukh, very needy farmers take loans from private moneylenders. For which they mortgage the cotton crop to the farmers. Insurance companies are also likely to benefit as the cotton growers will not claim the loss at all. Experts are also expecting the price to go down to around Rs 13,000-15,000 per quintal this year itself.

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