Mandi Updates: Wholesale Cotton Prices Increase across Benchmark Markets

The wholesale prices of cotton, in March, increased across the benchmark markets, according to the data from the Agmarknet portal, run by the Union Ministry of Agriculture and Farmers Welfare.

The month-on-month average wholesale prices of cotton increased by Rs 460 per quintal to Rs 7,136.2 in March. Amongst all the states, the wholesale prices in Karnataka rose the most, by 12.07% to Rs 7,801, followed by Tamil Nadu where the prices grew to Rs 7,592 per quintal in March from Rs 6,781 in February, amounting to a month-on-month increase of 11.96%.

Other regions where the prices surged are Andhra Pradesh, Gujarat, Haryana, Maharashtra, Punjab, Rajasthan, and Telangana. In Gujarat, the wholesale prices increased by 10.18% to Rs 7,501 per quintal. 

Similarly, in Andhra Pradesh, the prices increased by 7.47% to Rs 7,454 per quintal, and in Haryana, they rose to Rs 6,743 per quintal in March from Rs 6,473 in February. However, in Odisha, the wholesale prices dropped by around 1% to Rs 6,751 per quintal.

Earlier this month, the Centre fixed the maximum retail price of Bt Cotton Seed price at ₹864 per packet for Bollgard II and at ₹635 for Bollgard II for the upcoming kharif season 2024-25. This was an increase of around 1% from last season’s MRP.

For the year 2023-24, the minimum support price of cotton is fixed at Rs 7,020 per quintal for long staple variety and Rs 6,620 for medium staple variety, according to the Farmers’ Portal, the Department of Agriculture, Co-operation and Farmers' Welfare.

For those interested in exploring the prices of various crops in their respective state markets, the official website agmarknet.gov.in provides a comprehensive list. Understanding the price dynamics of different crops and their quality assessment remains pivotal in navigating market fluctuations for farmers and traders alike.