There are some Indian farmers in Karnataka and Telangana have been storing cotton (kapis/kapus) on their respective terraces and backyards in order to receive better prices for their future production.
The current season began on October 1st,2022. The farmers, in this season have been holding back the production of cotton prices because of the decline of the cotton price over 40%. As compared to the previous peak of Rs.1 lakh per candy (356 kg) as witnessed in May-June,2022.
As per the data, the Agriculture Ministry and the cotton arrivals between October 1st,2022 and February 6th were atleast 30% lower at 125 bales (This is equivalent to 170 kg) from 190.5 lakh bales. The farmers had RS.12000-Rs.13000 per quinal the previous season, but today, they have been getting only RS.8000 per quintal.
The price of cotton is quoted at RS.61,500 per candy in Gujurat. In Rajkot, the price of raw cotton declined to Rs.8205 per quintal from RS.8405. The cotton prices have been holding bak up to 75% of the harvested crop. There are farmers in Jamnagar who have been storing cotton in their terraces and godowns as there is no satisfaction regarding the prices.
With the demand in challenges, there is a continuity in the markets, there is a lower level of industry which will be utlising and keep a check on the cotton prices. There is an alternative of low-cost fibers which are at an advantage of taking the market share of cotton which are permanent in multiple areas.