Rajkot marketing yard sees spurt in cotton inflows

A bumper crop and good prices have resulted in a spurt in cotton inflows to the marketing yard in Rajkot.

The marketing yard is conducting two auctions in a day. According to H V Vadodaria, secretary of the marketing yard, Rajkot, inflows of cotton to the yard has started in increasing volume from the last two weeks.

Farmers who want to sell had to stay at the yard till late at night to finish formalities.

To avoid inconvenience to farmers, yard officials is conducting two auctions in a day to clear stocks. This season cotton production would be at around 14 lakh tonne in the state and Saurashtra would have a 80 per cent share of this.

Last year, cotton production was at 18 quintal per square yard of land and cotton growers are getting good prices this year, Vadodaria added. Normally cotton inflows to the yard starts in December every year.

On December 31, 2003, the yard witnessed inflows of 1,995 quintal Sankar Hybrid cotton and the price was in the Rs 557-579 per quintal range. BT cotton inflows were at 2,870 quintals on December 31, Vadodaria said.

He added that the average income of cotton at the yard has remained at 5,495 quintals per day in January and prices remained at around Rs 519-582 per quintal.

This is higher than last year's level and the flow of cotton is increasing every day.

Gordhanbhai Thumar, a cotton sales broker at the yard, said this year is promising for all agriculture produce and as cotton prices are good, most of the farmers who want to encase their cotton are selling in the market

Farmers who are capable of holding capacity and cotton merchant will hold the stock for future returns and the prices are expected to be steady at Rs 521-580 per quintal, he added.