Amid rising concerns among cotton growers over the ever-increasing cost of cotton production, the natural fibre fetched a relatively better price of ₹8,960 per quintal to a farmer from Jangaon district at the Enumamula market yard in Warangal on Monday.
The price is said to be the highest at the market yard in the current procurement season that began last month.
According to sources, the farmer identified as Nallatheegala Sarangam of Zaffargadh village in Jangaon district sold 31 bags of new cotton with a moisture content of 9.5% at a price of ₹8,960 per quintal at the market yard on Monday afternoon.
Nearly 7,513 quintals of cotton arrived in Enumamula market yard on Monday.
Sources attributed the spurt in the price of cotton largely to a rise in export demand for the natural fibre particularly from south Asian countries, including Sri Lanka.
Though the cotton acreage has slightly increased in the old undivided Khammam district in the last Kharif season, the yield is likely to go down due to significant crop damage caused by intense spells of rain and monkey menace, said Telangana Rythu Sangham Khammam district secretary Bonthu Rambabu.
In the wake of rising cost of cotton cultivation, which is currently estimated at around ₹8,000 per quintal, it is imperative on the part of the Centre to increase the minimum support price of cotton from the existing ₹6,380 to ₹12,000 per quintal, Mr Rambabu said. He added that such a move would protect cotton growers from the price volatility of the natural fibre and the effects of vagaries of nature.