New Delhi. As the global market soared due to low production, increased demand and supply constraints, domestic cotton prices soared to a record high of 63,000 rupees (356 kg) per candy.
On the New York Intercontinental Exchange (ICE), cotton prices rose by more than 50% year-on-year to 108.67 cents per pound (66,025 rupees per candy).
At present, the price of raw cotton in all markets across the country is higher than 7,000 rupees per quintal, and the fixed MSP this year is 5,726 rupees. The price is much higher than MSP means that CCI does not need any market intervention this year.