Price fixed at Rs 4,400 per quintal but no trader buys
While the officials fixed the price at Rs 4,400 per quintal, no trader came forward to buy the produce at that price. The traders offer was limited to Rs 3,000 to Rs 3,500 per quintal. M. Nancharaiah of Konigerla, who had brought 25 quintals of
Khammam: The impact of the fall in cotton exports is being felt by cotton growers of Khammam district.
Price of cotton, which was hovering around the Rs 5,000 per quintal mark just 20 days ago, fell to Rs 3,000-Rs 4,000 per quintal range. Though it is not the season to harvest the cotton crop, cotton growers had brought their stocks to the market hoping to get a good price. Nearly 8,000 quintals of cotton reached the Khammam Agricultural Market Yard on Tuesday, where owners of ginning mills located in Tamil Nadu and AP buy the cotton.
While the officials fixed the price at Rs 4,400 per quintal, no trader came forward to buy the produce at that price. The traders offer was limited to Rs 3,000 to Rs 3,500 per quintal. M. Nancharaiah of Konigerla, who had brought 25 quintals of cotton to the market, said he was shocked at the price.
Explaining the reason, N. Srinivasa Rao, a cotton buyer, said that the exports to China have come down heavily in recent times. He said that Chinese traders are not expressing interest to buy cotton as they are under pressure to bring down their inventories.
“China plans to offload its stocks and provide subsidies directly to farmers. There is no option left for cotton growers here except to sell to local ginning mills," Mr Rao said. Cotton is a major crop grown in Khammam district as the land is fertile here.
( Source : dc correspondent )
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