Cotton auction fetches Rs 14.51 cr for 16,200 Tiruvarur farmers

The procurement of cotton at Tiruvarur commenced on June 15 and similar drive was conducted at Poonthottam, Kudavasal and Valangaiman regulated markets during Tuesdays and Fridays through indirect auction.

Traders from Tirupur, Villupuram, Theni, Dindigul, Kumbakonam and Sembanarkovil took part in the auction. So far, 14,631 quintal cotton has been procured at Tiruvarur regulated market while 3,657 quintal procured at Poonthottam market. Similarly, 2,598 quintal has been procured at Kudavasal and 1,458 quintal at Valangaiman has been procured.

“With this, a stock of 22,345 quintal cotton has been procured so far in the district,” said Tiruvarur Collector P Gayathri Krishnan after inspecting the auction at a regulated market on Tuesday. She said that as many as 16,200 farmers have been benefited and the price range of Rs 5,000 and Rs 7,777 per quintal was fixed, said the Collector.

She also conveyed that the farmers expressed happiness as they got a decent price, which was higher than the previous year, for their produce.

Meanwhile, farmers said that the harvest was good this year and the pricing has also been fixed higher than the previous year. They urged the government to speed up the procurement process to avoid accumulation of cotton stock.