MUMBAI, 11 Jun (Commoditiescontrol): According to Hindu BusinessLine, Kapas prices are holding firm, ranging around Rs 7,500-7,600 per quintal, which is above the minimum support price (MSP) in regions of Karnataka and Telangana. This firmness in cottonseed prices is supporting natural fiber prices as the Kharif 2024 sowing season kicks off in southern states, bolstered by the onset of monsoon rains.
Cotton acreage is anticipated to rise in Telangana, where some chilli farmers may switch to cotton due to weak spice crop prices. Ramanuj Das Boob, a sourcing agent for multinational and domestic buyers in Raichur, highlighted that recent rain spells in Karnataka and Telangana are promising for cotton crops.
Monsoon rains, which began in late May, have spread across most of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, large parts of Telangana, and parts of Maharashtra. Baya Reddy, agri-inputs sales leader at BigHaat, an online marketplace for agri-inputs, noted that all major cotton-producing states have received good rainfall, spurring seed purchases. In these states, cottonseed purchase progress is between 35% and 50%, with planting covering about 10% of targeted areas. However, Reddy indicated that cotton acreage might decrease in areas like Kurnool and parts of Telangana due to market-specific crop shifts.
In North India, early cotton planting typically begins in mid-April. However, acreage is expected to decline by approximately 25% due to factors such as increasing pest infestations and rising labor costs.
Boob reported that daily market arrivals of raw cotton in Karnataka are around 2,000 bales, while in Maharashtra, it ranges from 15,000 to 20,000 bales. He also noted that cottonseed prices have risen to Rs 3,300-3,500 per quintal, up from Rs 2,800-3,000 a month ago, driven by increased demand for cottonseeds for crushing despite dwindling raw cotton market arrivals.
Meanwhile, cotton sowing in North India is seen 20-30% lower as farmers have lost confidence in this commercial crop due to pest attacks in previous years. Farmers have deliberately delayed crop sowing by 15-20 days this year to avoid damage from pest attacks similar to those that occur during the late monsoon rains in late August and early September each year.
(By Commoditiescontrol Bureau; +91 98201 3018)
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