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Cotton prices hit all-time high

New Delhi.According to official data from the Punjab Mandi Committee, Muksar reported a five-digit cash crop rate on Monday.

It has not been confirmed how many quantities have been purchased at the historical price of Rs 10,500 per quintal, which is 77% higher than the minimum support price of Rs 5,925 set by the central government for the 2021-22 Harif season. Industry sources said that cotton prices exceeded the 10,000 rupees mark for the first time.

As demand for Indian yarns continues to be strong in the global market, prices may rise further. On November 1, private buyers in Muktsar purchased approximately 2,080 quintals of cotton, and so far the region has reported sales of 131,000 quintals.