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India: Punjab cotton prices to remain good this season

During the 2017-18 season, cotton acreage in Punjab stood at 2.91 lakh hectares as against the initial figures of 3.82 lakh hectares. However, higher productivity saw the state produce 11.5 lakh bales. Cotton is sown over nearly 110 lakh hectares across India.

Rates of raw cotton opened strong in most markets in Punjab as harvest of the state’s second biggest kharif crop started in the first week of September. Farmers are getting about Rs 5800 per quintal for their produce.

The strong market is expected to continue for about two months. The MSP of medium staple cotton, grown in Punjab, is fixed at Rs 5,350 per quintal this year, up from Rs 4,220 per quintal in the last kharif marketing season. Higher rates for the produce are likely to give better returns to farmers. A higher yield of crop is expected this season as compared to 2017-18. The buoyancy in rates is expected to remain at least till Diwali or till the arrival of raw cotton picks up in markets across India.

Farmers in Bathinda expect a good yield of over nine quintal per acre, which earlier was nearly eight quintal per acre. The price too is expected to remain good.