MP: Cotton Prices Surge To ₹7,500 With Entry Of Cotton Corporation Of India In Bhikangaon Mandi

Bhikangaon (Madhya Pradesh): A wave of optimism has swept through the farming community in Bhikangaon Mandi following the recent surge in cotton prices. On Thursday, the maximum price reached an impressive Rs 7,500 per quintal, bringing smiles back to the faces of local farmers.

The surge in prices coincided with the Cotton Corporation of India (CCI) commencing its cotton procurement at the support price, although initial purchases were limited to just two farmers on the first day. CCI official JP Singh highlighted the importance of registering cotton in the market to ensure purchases at the support price.

The registration process has been streamlined, requiring farmers to present their Aadhaar card, a bank account and a mobile number also linked to Aadhaar. The excitement in the market was palpable as cotton began arriving in larger quantities. According to Mandi secretary Rachna Tikkekar, a total of 185 bullock carts and 155 vehicles delivered cotton to the market.

The pricing details revealed a maximum price of Rs 7,500, a minimum of Rs 5,558 and a model price of Rs 6,781 per quintal. Local farmers Jitendra Sejgaya and Rajendra Rathore said that CCI's presence in the market would lead to more stable prices, allowing them to sell their crops at fair rates.

JP Singh further explained that the CCI is currently purchasing cotton with 8 to 12 percent moisture content, with prices set between Rs 7,421 and Rs 7,124 per quintal. Mandi secretary assured that farmers bringing their crops daily would be registered on the same day, enabling them to sell their cotton efficiently.