Cotton fetches Rs 6,300 per quintal

AKOLA: Just a day after cotton fetched Rs 5,300 in Ralegaon market, farmers who sold cotton at Khamgaon market got Rs 6,300 per quintal on Monday. The record-breaking price was given to the farmers by Priyadarshini Cooperative Spinning Mill of MLA Amrish Patel. The spinning mill has given this price for Mahico's cotton variety 7918.

Elsewhere in the state the farmers are getting anything between Rs 5,300 and 5,800 per quintal of their produce. The sudden rise in price is due to the devastating flood in Australia. Traders felt that due to the floods cotton production will decrease by 50% in Australia. Hence, the rate of cotton produced in India and Maharashtra has shot up. Traders also predicted that cotton garments will cost a little more in coming months.