Season’s first auction witnesses trade valued at ₹ 1.82 crore
The season’s first cotton auction at Thuraiyur Regulated Market has brought good tidings for farmers as it not only witnessed brisk trade but also fetched good returns to them.
Cotton auction at the market, functioning under the Tiruchi Marketing Committee of the Department of Agricultural Marketing and Agri Business, resumed this week and would be held on every Tuesdays through the season up to March/April, officials said.
This Tuesday, the auction met with a good response both from farmers and traders, with the total trade on the day being valued at ₹1.82 crore. Nearly 950 farmers had brought in 4,831 bags or 1.83 lakh kg of cotton and about 23 traders from various parts of the State participated in the auction. The maximum price offered was ₹10,701 a quintal and the average price was 9,925 a quintal, according to sources.
Farmers from Thuraiyur, Musiri, Thathaiyengarpet, Uppilliyapuram and Manchanallur had brought cotton for auction and traders from Panruti, Sembanarkovil, Kumbakonam and other places participated in the auction, according to official sources. “The farmers were happy that they got a good price of ₹107 a kg right at the first trade and are confident of getting good returns right through the season. In the past few years, they used to get only about ₹75-80 a kg. The good price will help offset to a certain extent the loss in yield caused by rain,” an official said.
Cotton auctions at the regulated market in Thuraiyur were being held in a big way since 2019. The auctions have averted the need for the farmers to go to the cooperative trading centre at Namakkal, saving them transport cost (of ₹30 a bag) and other incidental expenses. Last year, cotton worth about ₹11 crore was auctioned at the market and the year before that the value of the cotton traded was about ₹9.75 crore, he added.
Cotton has been raised on about 11,470 hectares (ha) in the district against the 2021-22 annual targeted area of 14,500 ha.
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