Erode markets witnessed buyers offering higher price for cotton

The Erode markets on Friday along with rise in arrivals also witnessed improvement in the Bt cotton prices by Rs.300 a quintal. Higher price were offered by buyers for cotton. However, prices continue to rule lower than last year.

Bt Cotton is cultivated in Kolathur, Kongapuram, Sathyamangalam, Gobichettipalayam, Anthiyur and Namakkal areas. Harvest of the crop, grown in fallow lands after rice harvest, has begun. Sale of cotton in Avinashi and Attur was encouraging, according to M S Subburaman, superintendent of Anthiyur Regulated Market Committe.

In Avinashi, 12,000 bags were sold while in Attur, 25,000 bags were sold at a maximum price of Rs.5,800 a quintal and the arrivals increased to 1,900 bags.

At Anthiyur RMC, Bt Cotton was sold at Rs.4,700-5,310.

There is an increase in demand for cotton seen all over India. It is also seen that many North Indian millers prefer Tamil Nadu cotton for its quality. He also said buyers from Coimbatore, Tirupur and other places offered higher prices and picked up all that was put up on sale.