The price of cotton in the Khammam market hit a record high on Saturday, fetching a farmer in Aswapuram mandal in Bhadradri-Kothagudem district a record lucrative price of ₹12,001 per quintal.

According to Agricultural Market Committee (AMC) sources, this is the highest price cotton has ever commanded in state markets.

Cotton fetches a good price of between ₹9,000 and ₹11,500 per quintal, above the minimum support price (MSP) of ₹6,025 per quintal at the Khammam market. It fetches a good price for farmers at the end of the supply season due to a combination of factors, including increased demand for natural fibers in domestic and overseas markets, the sources added.

A farmer identified as Gokannapalli Saidulu from Aswapuram sold almost 29 bags of cotton at a record price of ₹12,001 per quintal at Khammam market.

The yard witnessed a huge influx of cotton from various villages in the former undivided district of Khammam and parts of neighboring districts. Around 500 bags of cotton were traded on the National Agriculture Market (e-NAM), the pan-India e-commerce system, in the market on Saturday.