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Priyanka Kumari
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NAGPUR: The Eurozone's economic crisis is casting its shadow in far-off Vidarbha. Even as the state government dithers on enhancing minimum support price (MSP) for cotton, farmers may have to settle for a much lesser market rate in the coming months.

The government has fixed MSP for long staple cotton at Rs3,300 per quintal, with the market prices being in the range of around Rs4,000 to 4,500.

However, experts as well as prices in the futures market point towards a bearish trend. Thanks to the European crisis, the demand for textiles has taken a hit bringing down the rates of cotton.

Chairman of Commission for Agricultural Costs and Pricing ( CACP) Ashok Gulati said in an email, "The fall was expected in the wake of the unfolding Eurozone crisis. I sympathize with the farmers agitating in this regard and also met MP Raju Shetty on this issue."

If the cotton futures quoted at the National Commodity Derivatives Exchange (NCDEX) and Multi Commodity Exchanges are considered, the market price for cotton will only go down in the days to come. The futures gives an indication of rates which may prevail during the coming dates.

At NCDEX, the February contract for cotton is quoted at Rs715 per 20kg, which translates to Rs3,575 a quintal. The rates in physical market are Rs500 to 600 higher, as other costs such as transportation and taxes are also considered.

The April contract, which is the most traded one, is quoted down at Rs708 per 20 kgs (about 3,540 a quintal). "This clearly indicates a bearish trend in the market for cotton," says Amar Singh, an analyst at Aditya Birla Money.

Any adverse reports on the economy will likely bring down the rates further, say sources.

There is a similar trend in the MCX where the futures is pegged at per bale rates. Cotton processed at the ginning mill is packed in bales. The rates have already come down from an all-time high of Rs18,910 per bale to Rs17,220 a bale in just a fortnight.

The offtake by the mills in October is not expected to be more than 14 lakh bales as compared 22 to 21 lakh bales in the normal course.

Even the overall cotton production this year is expected to be higher at 36 million bales as compared to 32.5 million last year, which will cause a slump, says Arun Shekseria, member of MCX's national advisory council and an exporter.

The demand from the textile mills is low because of the lower demand for branded clothes in the international market. The Euro-crisis can also be one of the reasons for it, he said.
NAGPUR: The Eurozone's economic crisis is casting its shadow in far-off Vidarbha. Even as the state government dithers on enhancing minimum support price (MSP) for cotton, farmers may have to settle...
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It will b helpful and full proof if u could indicate the NCDEX / MCX quotes for the last year from October2010 to December2010....for December2010 to May 2011. I think picture was not much different than today's picture.
Further it would be important to find out the reason that why production cost per quintal of cotton is increased because of which farmers r demanding more price. The solution to reduce the cost of production can be found out after analysis only.
Govt says the increased rate for sugarcane is offered bu sugar factories only & govt is not directly/indirectly involved in the issue. Where from sugar factories r going to pay this increased cost? What is that miracle that Govt and Sugar factories could increase 50% cost of sugarcane within 3-4 days of movement by Mr.Raju Shetty? Is it not possible to find out such Miracle for cotton, soyabean, Dhan? Will anybody highlight the issue.
NAGPUR: The Eurozone's economic crisis is casting its shadow in far-off Vidarbha. Even as the state government dithers on enhancing minimum support price (MSP) for cotton, farmers may have to settle...
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will you freind me
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