Cotton prices flare up at auction

[img]http://www.thehindu.com/multimedia/dynamic/02483/22july_tjren03__23_2483058f.jpg[/img]At Kumbakonam market, cotton fetched Rs. 4,250 a quintal -

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July 26, 2015 Cotton growers in the Kumbakonam region of Thanjavur district, where cotton cultivation is fast catching up, found increased returns for their produce at the auction conducted by the Regulated Market Committee here on Wednesday.

The mean average price at the auction was Rs. 4,250 per quintal, up by around Rs. 200 over that of the previous auction.

Agriculture Department officials say cotton is raised on around 350 hectares of land in Kumbakonam sub-division, on 150 hectares of land in Papanasam sub-division, and on 315 hectares of land in Tiruvidaimarudur sub-division.

The Market Committee holds cotton auction on Wednesdays in Kumbakonam, on Thursdays at Tirupanandal, and on Fridays at Papanasam for the benefit of the region’s cotton growers.

Over 400 cotton growers brought their 1,300 quintal produce for auction at the Kumbakonam shandy on Wednesday in which traders from Tirupur, Erode, Coimbatore, Villupuram, and Nagapattinam districts participated and quoted their best prices in indirect bids.

Special Officer of the Market Committee Kaliyaraj and Superintendent Priya Malini opened the bids and announced the prices. While the maximum price was quoted at Rs. 4,399 a quintal, the minimum quote was at Rs. 4,100 for the same quantum. The mean average price was Rs. 4,250 per quintal, the officials said.

Farmers say there was an increase of Rs. 200 a quintal this time over that of the previous auction and hoped that their produce would fetch better returns in the days to come.

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