After the fiasco with Bt cotton In Vidarbha, rising cotton prices are good news for India’s second-largest cotton-producing state. This sudden increase in cotton prices according to experts occurred due to the pandemic playing a crucial role in limiting labor and transport and thus increasing the price of cotton.
This huge spike, however, could be followed by a sharp drop in charts as the economy slowly recovers from the setback caused by the pandemic.
Until then, however, cotton will be bought at dream rates of 7000 rupees or even 8000 In certain regions. According to farmers, 7,000 rupees per quintal is the best price they can get. After 2011, market prices never returned to this level and farmers were forced to accept the significantly lower PSM.
Although heavy rains have destroyed many crops on the Indian plains, India, the world’s largest cotton producer, can only benefit from this price spike caused by the pandemic.
In May, the cotton industry of Mahrashtra couldn’t sell cotton crops worth more than Rs 5500 crore due to the unusual rains and the national lockdown imposed due to Covid and while nothing can bring back the lost crops, the current surge in cotton prices can be seen as a heavenly way to do them justice.
It also gives relief to farmers who are struggling with pests like pink boll worm while growing. Bacillus thuringiensis cotton which had caused a lot of losses during the evolution of cotton pests. This was also the case in Punjab where sellers of fake seeds and pesticides ended up causing many farmers to lose their cotton crops to pests.
Although the price of cotton has increased, it will surely come down soon, so it is the need of the hour for people to grow other crops like mushroom etc. as well.