Heavy demand from spinners buoyed cotton by Rs 300 a quintal this week. Arrivals have decreased as the season ends. Spinners, in need of huge stocks to meet orders from textile firms, quoted higher for the fibre.
Because of rain, Wednesday’s auctions at Bhoodapady Regulated Marketing Committee were postponed
to Thursday. All the 6,000 bags (2,100 quintals) kept for sale were sold. Chellasamy, a farmer, said, “The present price is lower compared with a fortnight ago. Arrivals will fall from next week when we are hopeful of getting more the produce.”
The fine variety Surabi was sold at Rs 5,900-6,500 a quintal, Bt cotton at Rs 4,600-5,300 a quintal. Of the 2,100 quintals, 800 quintal was Surabi.
At the Sathyamangalam Agricultural Cooperative Marketing Society, auctions were conducted on Wednesday, and 1,610 quintals arrived for sale. The prices were increased slightly. Brahma and Bt Cotton were sold at Rs 4,600-5,210 a quintal.