NEW DELHI: Cotton production in India, the second largest producer, may decline by 10 per cent this year as farmers are shifting to other lucrative options like soyabeans and corn, an industry body said.
In 2011-12, farmers planted a record 121 lakh hectares under cotton. This year, it is expected to be less than 110 lakh hectares, he said.
Nair said farmers are also inclined to other commodities because there has been a decline in Cotton prices against last year.
“Last year, it was Rs 63,000 per candy. Currently, it is between Rs 33,000 and Rs 34,000 per candy.” One candy is equal to 356 kg.
However, he said, the current cotton prices are above the average rates in last five years.