Cotton prices start rising on monsoon-led crop damage, pink bollworm attack

Rising cotton prices are likely to compund the woes of spinning mills, which have been facing weak demand from China and Bangladesh, which buy over 75 per cent of India's cotton yarn

Cotton prices have started rising the past one week due to lower production estimates this year, following reports of crop damage on erratic rainfall and pink bollworm attack on standing crops in major growing regions.

Data compiled by Agmarknet.in showed raw cotton prices in Warangal mandi surged by 7 per cent the past 10 days to trade on Wednesday at Rs 6,225 a quintal from Rs 5,800 a quintal earlier. The price rise in other mandis has been quite similar. In fact, in Gondal (Rajkot, Gujarat) mandi, raw cotton prices surged sharply to trade at Rs 6,380 a quintal on