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Cotton Rules Steady In Gujarat

19 Oct 2019 5:09 pm
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MUMBAI (Commoditiescontrol) - Cotton prices ruled steady at major markets of Gujarat on Saturday despite increasing arrivals.

Around 14,000 bales of cotton arrived in the state today.

Kapas here ruled at Rs 3,500-5,875 per quintal, while cotton seed quoted at Rs 2,875-3,200 per quintal.

The prices of Shankar-6 cotton 29MM and V797 in Ahmedabad and Rajkot were at Rs 39,000-40,000 per candy and at Rs 31,000-32,000 per candy.

According to traders, the price has to fall for export. The country is estimated to produce around 4 crore bales this year.

According to the Cotton Corporation of India (CCI), about 64,430 bales of cotton have arrived in the state till 16 October. However, due to high moisture content, government procurement will start only by mid-November.

SPOT COTTON PRICES IN MAJOR GUJARAT
MARKET/VARIETY UNIT 19-Oct 18-Oct AVERAGE %Change US cent/lb
19-Oct 18-Oct ABS CHANGE*
Gujarat S-6 A Grade (29mm) (3.8-4.00 MIC) Rs/Candy 39000-40000 39000-40000 39500 39500 0 0.0 69.99-71.77
Gujarat S-6 B Grade (28.5 mm) (3.5-3.7 MIC) Rs/Candy 0-0 0-0 0 0 0 #DIV/0! 0-0
Gujarat S-6 C Grade (28 mm) (3.2-3.5 MIC) Rs/Candy 0-0 0-0 0 0 0 #DIV/0! 0-0
Gujarat V797 A Grade 22-24mm Rs/Candy 0-0 0-0 0 0 0 #DIV/0! 0-0
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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