Start of New Cotton Season at Botad APMC: First Day Prices Range from ₹1500 to ₹2100 per 20 Kg
The new cotton auction season began today at the Botad APMC. On the very first day, cotton prices ranged between ₹1500 and ₹2100 per 20 kilograms. More than ten traders started purchasing after performing the traditional ritual.
On this auspicious occasion, the APMC chairman distributed sweets to farmers and traders, extending best wishes for a prosperous season. It is estimated that more than one lakh man (a traditional unit of weight) of cotton will arrive in the market premises this year.
Last year, cotton prices were between ₹1400 and ₹1500 per 20 kilograms, while the Cotton Corporation of India (CCI) purchased at ₹1533. This year, CCI has decided to buy cotton at ₹1600 per 20 kilograms. Due to good rainfall, production has increased, which is expected to boost farmers’ income as well.
Traders believe that if the government allows cotton exports, prices could rise further; otherwise, the market price is likely to remain stable at around ₹1600 per 20 kilograms. Farmers too are hopeful that in the coming days, they will receive better prices.
