Cotton prices hit new high, soften pink bollworm blow
Cotton prices hit new high, soften pink bollworm blowThe pink bollworm pest has adversely affected yield of the cotton crop in Bathinda and Mansa districts of Punjab, but there is a silver lining at the end of the tunnel — the crop is being sold for a premium in grain markets, with the selling price touching an all-time high of Rs 8,060 per quintal at one place on Saturday.Previously, the cotton crop had touched an all-time high of Rs 7,000 per quintal. Usually, the crop does not sell for more than Rs 6,000 per quintal. Though a considerable portion of cotton has been damaged by pink bollworm in Bathinda and Mansa this year, farmers are still bringing the cotton that could be salvaged from their fields to grain markets.At Bhucho Mandi in Bathinda district, the crop traded at Rs 8,060 per quintal. In Bathinda, it fetched Rs 8,015 per quintal. In Abohar mandi, it fetched a price of Rs 7,840 per quintal as highest.Less quality cotton also was traded between Rs 6,000 and Rs 6,500 per quintal, while the MSP for 27.5-28.5mm-long staple cotton was Rs 5,925 per quintal. Cotton has been sown on 3.03 lakh hectares in Punjab this year.Farmer Iqbal Singh from Bhagi Wander village near Talwandi Sabo, who had sown cotton in his family-owned 17 acres, said he got a yield of less than four quintal per acre, which was 9-10 quintals per acre earlier. "Had the yield been similar, we could have made a fortune. Now we are in a dilemma: whether to call it white gold or not," he said.Fellow villager Mohinder Singh, who had sown the crop on three acres, too complained of low yield due to pink bollworm. A number of pests were seen crawling on the ground where Mohinder and Iqbal had unloaded the cotton crop in the grain market. Mohinder said, "We had taken three acres on lease for Rs 59,000 per acre and will have to incur loss, as we may not be able to get any profit from this crop and will have to depend on the next wheat crop."A few metres away, Malkit Singh of Buladewala village, who had sown crop on 1.5 acres said the yield was low. Accompanying him, small farmer Mithu Singh from Bir Talaab village, who had sown cotton on only one acre, said he got less than four quintals, which ideally should have been over 10 quintals.However, farmer Gursahib Singh was pleased as his cotton crop fetched Rs 7,920 per quintal. He got a yield of over 10 quintals per acre. He said it was first picking and one more or even two pickings will be done. "I expect to get better price for the crop," he said.Bathinda market committee secretary Gurwinder Singh said adequate quantity of cotton was coming to mandis and fetching prices close to Rs 8,000 per quintal.4.5L quintals boughtAccording to the data compiled by the Punjab State Agricultural Marketing Board, the 4.47 lakh quintals of cotton crop has been purchased by private traders till October 16. Of this, 1.61 lakh quintals has been sold in mandis of Fazilka, 93,000 quintals in Mansa, 90,500 quintal in Muktsar and 90,850 quintal in mandis of Bathinda. Apart from these, over 11,000 quintals of cotton has been sold in mandis of Faridkot, Barnala and Sangrur.Reasons behind price surgeCotton trading agency Indian Cotton Association Limited (IACL) former president Mahesh Sharda said cited delayed arrival of crop due to inclement weather, a fall of 5% in area under cotton and a speculative swing the international market as probable reasons for spurt in prices. "Though it is expected prices may come down to some extent after Diwali when arrival will pick up, prices would firm up in the long run," he said
