Cotton fetches Rs. 4,600 a quintal

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Cotton has fetched Rs. 4,600 per quintal, the highest price in the current procurement season, in the cotton market yard here on Tuesday.

About 5,600 bags of cotton (roughly 2,000 quintals of cotton) arrived in the market yard and sold at Rs. 4,600 per quintal, around Rs. 500 higher than the minimum support price of Rs. 4,100 per quintal, on Tuesday.

With cotton continuing to command higher price due to the surge in demand for cottonseeds in some northern States, the cotton arrivals at the local market yard are expected to shoot up in the next few days, the market yard sources said.

While the Cotton Corporation of India (CCI) has procured little over 1.68 lakh quintals of cotton, the private traders have purchased 3.14 lakh quintals of cotton at the market yard so far this season.

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