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Cotton Rises Further In Lower Rajasthan

19 Oct 2019 4:41 pm
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MUMBAI (Commoditiescontrol) - Cotton prices extended gains by Rs 450-500 per candy at major markets in lower Rajasthan on Saturday amid buying from mills and an uptrend in other north Indian markets.

Kapas here traded at Rs 4,700-5,800 per quintal, while cotton seed quoted at Rs 3,100-3,200/quintal.

The price of 28-29.5MM cotton in Marwar offered at Rs 38,800-39,300/candy. Similarly, 27-28MM in Mewar ruled at Rs 38,800-39,300/candy. While the price of 29-29.5MM in Alwar was at Rs 39,700-40,000 /maund.

According to traders, there is a strong buying from mills in the mandis. Some buyers from Gujarat and Maharashtra are also active in the market. Furthermore, Cotton Corporation of India (CCI) in Hanuman-Sriganganagar area is buying cotton on the support price.

However, due to high moisture content in cotton, procurement is being done in limited quantities. The moisture in cotton that is coming to the mandis is 15-18 percent while the CCI procures cotton with moisture up to 12 percent. There are 13 procurement centres in this area, but not all centres are procuring.

SPOT COTTON PRICE IN LOWER RAJASTHAN
MARKET/VARIETY UNIT 19-Oct 18-Oct AVERAGE %Change US cent/lb
19-Oct 18-Oct ABS CHANGE*
Lower Rajasthan-Marwad Line 28-29.5 mm (MIC 3.8-4.00) Rs/Candy 38800-39300 38300-38800 39050 38550 500 1.3 69.63-70.51
Lower Rajasthan-Mewad Line 27-28mm (MIC 3.00-3.8) Rs/Candy 38800-39300 38300-38800 39050 38550 500 1.3 69.63-70.51
Lower Rajasthan-Khairthal Line 29-29.5 mm (MIC 3.8- 4.2) Rs/Candy 39700-40000 39300-39500 39850 39400 450 1.1 71.25-71.77
Note: USD/INR= Rs 71.09
Note: 1 candy = 356kg | 1 maund = 37.3kg | 1 Bales= 170 kg
*Average Change is the difference between average price of current date vs previous date


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