The Hindu Business Line : Cotton lint prices steady

Cotton lint prices maintained a steady trend and textile mills continue to buy their requirements even with the present high prices in order to meet their cotton needs, said the South India Cotton Association (SICA).

The SICA in its market report for the current fortnight ending May 15 said that there were less indications of farmers switching over to alternative crops this year due to high returns they enjoyed raising cotton in the 2007-08 season. The report said that they would remain with cotton for reasons partly of agronomic limitations and farmer-friendly Government policies.

Sowing has begun

The report said while sowing has already begun in Punjab/Haryana, farmers in Gujarat have begun pre-sowing operations in many tracts as they wanted to grow more cotton considering the beneficial prices. In Madhya Pradesh, farmers are waiting for the first rain to start preparatory work. In Maharashtra, farmers have begun to plan for cotton sowing as the loan waiver package from the Government and the good realisation in the 2007-08 cotton season were to encourage them to go for cotton sowing this year too. In Andhra, the land preparation has begun in Guntur and Prakasam districts as monsoon has been predicted to hit on schedule.

Spot prices

The lint prices in the spot market during the fortnight: Gujarat: Shankar-6 was quoted at Rs 23,000-23,500 a candy. V-797 ruled at Rs 17,500-17,800. Madhya Pradesh: Mech-1/H-4 ruled at Rs 21,000-22,000; Maharashtra: Lint prices ranged between Rs 21,500 and Rs 22,300 (for 28-30mm); Andhra Pradesh: MCU-5 ruled at Rs 22,000-22,700 a candy; Karnataka: DCH-32 ruled between Rs 29,500 and Rs30,100; Jayadhar at Rs 18,500-18,900 a candy.

SICA, an invitee to the cotton advisory board meeting scheduled to be heldon Saturday, will present a case for extension of the technology mission on cotton (TMC) for the 11th plan as the CAB is expected to review the progress of the TMC, the SICA report added.

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