Surendranagar bourse to launch Bt contract

The Surendranagar Cotton Exchange is contemplating to launch a new contract on the Bt cotton 118 variety next year. The move follows a drop in production of the traditional Kalyan variety and a rise in the Bt cotton's acreage and output.

"The production of the Kalyan variety is decreasing by the day in Saurashtra and there is more demand for the Bt 118 variety. In line with the demand, we are seriously contemplating to launch a new contract of Bt 118 and phase out the Kalyan contract gradually," said Surendranagar Cotton Exchange President Y B Rana.

The region used to produce around 10 to 15 lakh bales of raw Kalyan cotton (160 kg each) earlier. Now, it was hard to get even 5 lakh bales of the Kalyan variety here. On the other hand, the BT 118 variety was picking up momentum, he added.

"The decreased production of the Kalyan is directly affecting the trade volumes on the exchange. We don't want our business to be hampered as we are a regional exchange," he said.

Giving reasons for the declining output he said more and more farmers were turning towards Bt cotton. Bt cotton would be in greater demand in the future, with the Narmada river reaching more areas in Saurashtra.

"Our focus will remain on cotton for the years to come. However, the future cannot be predicted at the moment. Our focus will remain on setting up online facilities and on cotton, our main commodity," he added.