Cotton prices shoot up in in Ralegaon market

Yavatmal, Jan 17(PTI) The price of cotton, the main cashcrop of the rain fed Vidarbha region, is set to touch a newheight in the next few days as the raw cotton has beenpurchased by private traders in the Ralegaon market atRs 5050 per quintal on Monday.

According to the Agricultural Produce Marketing CommitteeChairman Praful Mankar, cotton purchase was started atRs 4000-4500 per quintal during the current season. However,it has gradually increased and today it crossed the Rs 5000mark.

"We are expecting the price to go up to Rs 6000 perquintal this year," he said, adding that the farmers from faroff places are also attracted to the Ralegaon market where theprice is stable, the weighing system is faultless and thepayment is prompt.

There are seven ginning factories with a good net work ofcollection. The traders from other parts of the Vidarbharegion are also coming to Ralegaon to procure cotton.

The Government-run procurement centres are not gettingany cotton due to the high open market rate. The Government isnot ready to hike the MSP beyond Rs 3500 per quintal.

About 2.7 lakh quintal of cotton has so far beenprocured at Ralegaon alone and over one lakh quintal ofadditional cotton arrival is anticipated in the coming days,informed the Vice Chairman of the APMC Rajendra Thelange. PTICORRABC