Cotton prices decreased by Rs 500 a quintal on Wednesday. “For the past three weeks, the demand was very high in Bhoodapady Regulated Market Committee (RMC) due to arrival of fine variety cotton and also the arrival and sales were encouraging. But suddenly on Wednesday, the arrival decreased by 300 quintal and only 1,361 quintals (3,590 bags) of cotton arrived for sale”, said the RMC officials.

This week, the arrival to the nearby Mallasamudram (Salem district) cotton market has increased and some important bulk buying cotton merchants did not attend the Bhoodapady RMC auction. So the prices decreased by Rs 500 for Surabi and Rs 110 for Bt. cotton.

The buyers expected the price to increase in the next week.

At Bhoodapady RMC, the Surabi variety was sold at Rs 5,900-6,100; Bt. cotton Rs 5,110-5,610. All the 1,361 quintals were sold.

At the Anthiyur RMC, the Surabi variety fetched Rs 5,750-6,500; Bt. cotton Rs 4,500-5,400; all the 2,180 quintals (5,500 bags) were sold.

At the Sathyamangalam Cooperative Marketing Society, the Bt cotton was sold at Rs 4,700-5,400; 920 quintals were sold.