Surge in Akot Cotton Market: Cotton Prices Cross ₹10,000 Mark

Surge in Akot Cotton Market: Cotton Prices Cross the ₹10,000 Mark

Cotton prices at the Akot Agricultural Produce Market Committee (APMC) have been witnessing a continuous upward trend. On Wednesday (May 6), the maximum price for cotton reached ₹10,005 per quintal, creating an atmosphere of excitement among farmers. The minimum price recorded at the market stood at ₹8,550 per quintal, while daily arrivals of cotton have exceeded 1,000 quintals.

Akot, which has established itself as a prominent emerging cotton market in Western Vidarbha, saw the Cotton Corporation of India (CCI) procure over 7.39 lakh quintals of cotton through three procurement centers at the beginning of this season. Subsequently, starting in April, private traders also commenced their procurement operations. Since April, approximately 33,000 quintals of cotton have been traded at the Akot market.

Cotton prices have been rising steadily over the past few days. While the maximum price stood at ₹9,500 per quintal on Monday, it rose to ₹9,740 on Tuesday. On Wednesday, cotton prices crossed the ₹10,000 mark. This sustained upward momentum in the market has bolstered farmers' hopes that cotton prices may rise even further in the coming days.

Driven by this surge in prices, farmers are now bringing the cotton stored in their warehouses to the market. Farmers are also selling their produce with an eye on preparations for the new season and their immediate cash requirements. In particular, high-quality cotton remains in strong demand among traders, enabling farmers to secure better prices.

A significant number of cotton processing units operate within the Akot region. These industries require a continuous supply of raw material, thereby sustaining the demand for cotton in the market. It is for this reason that a positive trend is being observed in cotton prices. Market experts believe that if this level of demand persists, cotton prices could witness further appreciation in the days ahead.