According to central government statistics, cotton production during the year 2023-24 was 323 lakh bales which is less than last year. A trend of improvement has been seen in the price of cotton coming into the market as production is estimated to be low.
However, compared to the months of January and February, the global market, especially the US cotton futures are also on the line of improvement due to which the cotton market continues to improve in the month of March.
While this year the farmers are giving their responses saying that currently the cotton markets are improving but not all the farmers have got the improved cotton prices. However, there was a good price increase last year, which may benefit farmers who have stored cotton in the hope of getting it this year as well.
The income of good quality cotton is decreasing day by day due to which the cotton market is seeing continuous improvement. However, the government is currently seeing a price increase beyond the MSP price.
In the global market, the US cotton futures were at 101, which has now returned to 93, due to which the cotton market is seeing some softness this month compared to the end of February.
The central government has announced the MSP of cotton at Rs 7020 per quintal. MSP stands for Support Price.
The year 2024 saw a cotton high of Rs 1995 which was seen in limited market yards. However, after that, the average price of cotton reached the level of 1600 rupees again.
There are more than 30 different market yards in Gujarat. In which more than 20 market yards today the high price of cotton has been recorded at the level of 1600 rupees. While the highest price of cotton has been recorded in Botad today at 1671 rupees. These prices are as on 16 March 2024.
Today in Rajkot 1620 rupees, in Botad 1671 rupees, in Babar 1621 rupees, while in Jamnagar 1635 rupees high price of cotton has been recorded.
While today in Manavdar 1650 rupees, in Bagsara 1,600 rupees, in Morbi 1,600 rupees, in Jetpur 1606 rupees, in Babar 1621 rupees and in Jamnagar 1635 rupees high price of cotton was recorded.
Further, the price was 1606 rupees in Besan, 1632 rupees in Harij, 1635 rupees in Visanagar, 1641 rupees in Bijapur, and 1,600 rupees in Himmatnagar.
Even though cotton prices are currently good in different market yards of Gujarat, cotton income is decreasing. After a month cotton prices are increasing slowly.
Last year there was an increase in the price of cotton with the hope of stockpiling cotton this time, but due to non-increase in the price, the farmers have to sell the cotton at a lower price.
Now the price will increase?
As the election approaches, the government is making new announcements in every sector. When the government can support the textile market by giving incentives in the cotton sector as well. Due to which price stability is likely to be sustained.
However, last year the cotton prices touched the 2000 level due to which again the farmers are hoping that the farmers will get the cotton price of ₹2,000 this year. As it is an election year, let's hope that the farmers will get cotton prices till 2000.
Market price of cotton
Today's market price of cotton in Rajkot is Rs 1450 to Rs 1620. Today's cotton market price in Amreli ranged from Rs 992 to Rs 1585. Today's cotton prices in Savarkundla ranged from Rs 1351 to Rs 1580.
Today's market price of cotton in Jasdan is Rs 1350 to Rs 1585. Today's market price of cotton in Botad is Rs 1301 to Rs 1671. Today's price of cotton in Mahwa is Rs 1222 to Rs 1500.
Today's market price of cotton in Gondal was quoted at Rs 1101 to Rs 1606. Today's market price of cotton in Kalavad was Rs 1201 to Rs 1551. Today's cotton prices in Jamjodhpur ranged from Rs 1301 to Rs 1581.
Today's market price of cotton in Bhavnagar is Rs 1326 to Rs 1587. Today's market price of cotton in Jamnagar is Rs 1250 to Rs 1635. Today's cotton price in Babar was quoted at Rs 1330 to Rs 1621.
Today's market price of cotton in Jetpur was quoted at Rs 1178 to Rs 1606. Today's market price of cotton in Wankaner was quoted at Rs 1300 to Rs 1590. Today's cotton price in Morbi is Rs 1350 to Rs 1600.
Today's market price of cotton in Rajula is Rs 1000 to Rs 1571. Today's market price of cotton in Halwad is Rs 1300 to Rs 1572. Today's cotton prices in Talaja ranged from Rs 1150 to Rs 1578.
Today's market price of cotton in Bagsara is Rs 1250 to 1600. Today's market price of cotton in Upaleta is Rs 1200 to Rs 1480. Today's cotton price in Manavadar is Rs 1450 to Rs 1650.
Today's market price of cotton in Vichya is Rs 1350 to Rs 1590. Today's market price of cotton in Bhensan was Rs 1100 to Rs 1606. Today's cotton prices in Dhari ranged from Rs 1001 to Rs 1551.
Today's market price of cotton in Lalpur is Rs 1350 to Rs 1561. Today's market price of cotton in Khambhavalaya is Rs 1400 to Rs 1563. Today's cotton price in Ghrol is Rs 1235 to Rs 1600.