Cotton slips despite lower arrivals

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ERODE, AUG 1:

Cotton prices in Erode decreased despite lower arrivals.“The cotton season is nearing completion and within next 15 days arrivals will stop. Last year, cotton cultivation decreased by 50 per cent and arrivals were limited in Bhoodapady, Anthiyur Regulated Marketing Committees and also in Sathyamangalam Cooperative Marketing Society.

In addition this year a new cotton market was started at Konganapuaram in Salem district. So cotton growers brought their cotton to the five or six markets and now inventories with farmers have got exhausted,” said the supervisor of the Bhoodapady Regulated Marketing Committee. He said this week only limited bags of cotton arrived for sale, but the prices did not improve.

On Wednesday, at Bhoodapady 1, 400 quintals (4,000 bags) of cotton arrived for sale. Prices decreased by about Rs 1,000 a quintal. Bt cotton was sold at Rs 5,000 and Surabi variety at Rs 5,700. The present price, though low, appears to be workable for cotton growers.

Source: http://www.thehindubusinessline.com/markets/commodities/article3712904.ece

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