WARANGAL: The price for the new crop of cotton in the market touched a record high of `8,199 per quintal at Asia biggest cotton market at Enumamula here, bringing cheers for cotton farmers at the start of the purchase season.
The purchasing season for cotton started a month in advance on Monday.
With the arrival of new cotton to the market, officials, commission agents and hamalis performed pooja to the weighing machines before the purchasing season started. The previous year, farmers brought new cotton to the market in October and it was sold at `6,000 per quintal at the start of the season. This year, the new cotton arrived in the market by the second week of September and was sold at `8,199 per quintal.
Market secretary Rahul said that farmers were worried that they would face losses this time due to the heavy rains in the Warangal region but the high price at the start itself made them happy.
Currently, the demand for cotton is high in the international market. The price quoted this time was the highest in the history of the Enumamula market, it was noted.
If farmers bring new cotton to the market without any moisture content and with better quality, there is the possibility of a further increase in the price, he added.
Three farmers from Mucherla village of Hasanparthy mandal came in with 14 bags of cotton. The merchants competed with each other in the auctions to purchase this. The purchase was finally done by Sirvally Enterprises.
