Certainly, here is an article on the market rate of groundnut and cotton:
Groundnut and cotton are two essential crops for farmers and the agriculture industry. They have been grown and traded for centuries, and their demand has only increased over time. Today, let us take a closer look at the market rates for groundnut and cotton.
Groundnuts, also known as peanuts, are a type of legume that are widely grown in India, China, Nigeria and the United States. Groundnuts are harvested between September and October in India and can be used for oil extraction, making snacks, or even as animal feed. In 2020, the market rate for groundnuts was around 50 – 65 INR per kilogram (USD 0.67 – 0.88) in India. This price may vary by location or quality, but it gives farmers an estimate of what they can expect to earn.
Cotton, on the other hand, is a crop grown for its fiber, which is used in apparel, sheets, and other textiles. Cotton is usually harvested between the months of October and January in India, and its market rate is influenced by global demand and supply. In India, cotton’s market rate can range from 4,000 – 6,000 INR per quintal (USD 54-81) depending on the quality of the cotton. In the United States, cotton is traded on the Intercontinental Exchange (ICE) market, where prices can fluctuate based on weather conditions, demand from Asia, and any news affecting production. As of September 2021, the price of cotton on ICE was around 93 cents per pound (USD 2.05 per kilogram).
The market rate for groundnut and cotton can be influenced by various factors such as weather conditions, demand from consumers, changes in production, and government policies. These factors can cause fluctuations in the prices which can impact the lives of farmers who grow these crops for their livelihoods. Therefore, it is important for farmers to keep an eye on market rates to decide when to sell and to ensure they receive an adequate price for their produce.
In conclusion, the market rates for groundnut and cotton are crucial to the success of farmers and the agriculture industry. Groundnut and cotton are in high demand, and their rates fluctuate based on various factors, so it is essential for farmers to stay updated on market rates to better manage their produce and get a fair price for their hard work.