Cotton exports get delayed as farmers refuse to sell

India’s cotton exports have been delayed as the cotton farmers and suppliers are reported to have started hoarding their supplies as they are expecting a price increase for the commodity.

The harvest of cotton had begun last month and yet the exporters find it difficult to procure sufficient cotton for export as the farmers are unwilling to sell their produce in hope of good fortunes.

The previous season of cotton harvest had brought record prices for the farmers. However, the current scenario is different as the farmers are worried about getting lesser profit compared to the previous year as the local production has increased and the global prices have decreased.

A certain cotton farmer from Gujarat said that last year they had sold cotton at 8,000 rupees per quintal whose price increased soon after the sale to 13,000 rupees and so they are not going to repeat the same mistake and are determined not to sell cotton below 10,000 rupees per quintal.