NEW DELHI (Commoditiescontrol) - Cotton crop loss due to whiteflies attack or other pest related diseage in key cotton growing states of Haryana and Punjab is considerably higher this year as compared to last year.
Presently, cotton arrivals is seen consistently rising in the markets of Haryana and Punjab and most of the cotton will reach to the markets by the end of December, as per the market observers. They expect cotton prices to rally after December. However, cotton arrivals are likely to increase after Diwali in the markets of Central and southern parts of the country which may put pressure on prices in short term but prices will regains with decline in arrivals and rise in demand.
Cotton prices are higher as compared to last year in the market, said Sumit Singhal, a Hisar based trader. According to him, farmers are getting Rs. 100-200/100kg better prices this year currently,but these prices are still very low because the farmers had to bear high cost this year as their got damage due to whiteflies attack.
Rohtash, another trader from Hisar also agreed with Sumit and said, “ Cotton prices are though slightly higher this year as compared to last year but as compared to crop loss it is much lower.” Accoding to him, cotton is being quoted at Rs. 4,400/100kg in the market and it was at Rs. 4,000-4,200/100kg last year.
Jagbir, a farmer from Dabra village of Hisar had cultivated 20 acres of cotton crop but a major area of crop was lost duet o pest attack and only two acres has been left over. He said, “If crop fetches prices at Rs. 4,500/100kg, even though, his loss can’t be compensated.”
Ashok Kapoor, a Bathinda based trader anticipated cotton prices to move up slightly. Cotton is being traded around Rs. 4,300-4,600/100kg in Punjab. Cotton J-34 RG quality is being offered at Rs. 3,480-3,490/maund and cotton seed at Rs. 2,300-2,400/100kg, according to Ashok Kapoor. He guessed support to cotton prices amid expectation of low production. He ruled out any bullish or bearish sentiment in cotton as presently no such indication from global market has appeared.
“Cotton seed may witness slight rise in prices as arrivals pressure eases,” said Devendra, a trader in Haryana. According to him, firm tone in the prices of raw cotton, cotton and cotton seed will apprear on weak arrivals. “Since, cotton production is low this year, there is much chance that prices will rally,” added Devendra.
(By Commoditiescontrol Bureau; +91-22-61391523)
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