Cotton fetches record Rs 9,130 per quintal price at Hinganghat APMC

 

 

 

HINGANGHAT Agriculture Produce Marketing Committee (APMC) saw a record being made on Thursday as cotton fetched an unprecedented price of Rs 9,130 per quintal. Experts at APMC stated that never in the history had cotton fetched such a high price. Thursday saw as many as 71 big and small vehicles laden with cotton coming to the APMC. Jayprakash Narayandas Sarda of Vijaylaxmi Ginning, under broker Hemant Chaglani gave a price of Rs 9,130 to cotton of farmer Sanjay Umate, a resident of Burkoni.

 

In view of the growing prices, there was less inflow of cotton on Thrusday. Till December 29, 4,71,674 quintal cotton was purchased at Hinganghat. The turn of the week will see Hinganghat APMC reaching the target of 5 lakh quintal purchase, hoped Adv Sudhir Kothari, APMC Chairman. Rates of cotton and cotton seed have seen increase. A month back, the rate of cotton bales was Rs 62,000 which has now reached Rs 71,500. All these trends are indicative of a steady rise in cotton prices.