Ahmedabad, June 17 (Commodities Control): Cotton prices in Gujarat remained stable today, with no significant changes observed in the market. Traders report that most markets in Saurashtra are closed today in observance of Eid, although trading activity continued in North Gujarat. The future direction of the market will hinge on the upcoming sowing figures of Kapas.
The purchasing activity of spinning mills was notably low today. Additionally, the arrival of Kapas in the state remains insignificant, contributing to the stable price range.
In Gujarat, the price of 29mm cotton was quoted at Rs 55,600 to Rs 55,900 per candy, each weighing 356 kg. The price of 28.5mm cotton was Rs 55,300 to Rs 55,500 per candy, while V 797 cotton was priced at Rs 37,800 to Rs 38,200 per candy. The average price of Kapas ranged from Rs 1,300 to Rs 1,490 per maund, with each maund weighing 20 kg. Around 5,000 bales of cotton arrived in the state today.
ICE cotton futures prices had a mixed trend last Friday. The July-24 futures contract saw a decline of 0.38 cents, settling at 70.97 cents, while the December-24 futures contract increased by 0.35 cents to 72.14 cents.
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(Commodities Control Bureau +91-9820130172)
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