Monsoon Delay Affects Cotton Farmer Sentiments
The delay in monsoons has affected the sentiments of growing cotton farmer in many parts of the country, according to a report of the Indian Cotton Federation (ICF).
“Cotton growing farmers in areas surrounding Guntur in Andhra Pradesh, a few areas in Marathwada, some areas near Raichur in Karnataka and some pockets of Saurashtra in Gujarat have suffered badly due to delay in monsoon and may opt for alternative cash crops,” the report said.
“This in a way is good, considering the huge carry forward cotton stock, our trade may carry into the upcoming cotton season as cotton export too has been cut short to approximately 55 lakh bales in the current season as per trade reports,” it added.
The ICF Board met on August eight to discuss the current cotton scenario and expects that the Indian cotton crop could be around 388 lakh bales for the 2014-15 season.
ICF, quoting reports also informed that the Cotton Corporation of India (CCI) is holding a stock of 43.7 lakh bales as on August eight.
In the first fortnight of August 2015, cotton lint prices ruled steady, but mills are reluctant to replenish cotton stock as yarn movement is consistently slow or nil. In Punjab, Haryana and Rajasthan, rains have been delayed but are sufficient for the standing crop and new crop J-34 r/g may start arriving by October.
“The crop may be approximately between 50 and 55 lakhs as per sowing reports from the cotton trading community,” the report added.
The delay in monsoon has led to Gujarat farmers shifting to other cash crops like groundnuts and tur dal in many cotton growing pockets there.
As per report from the cotton trading community, the cotton crop could drop to a little above 1 crore bales in Gujarat considering the sowing pattern of farmers till date and good quality S-6 stock cotton was assessed at Rs.34,000 spot per candy.