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Gujarat: Cotton prices steady amid limited demand, lower arrivals

18 Sep 2021 11:43 am
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Mumbai, 18 September (Commoditiescontrol): Cotton prices were steady in the markets of Gujarat on Saturday amid limited demand from spinning mills, while daily arrivals declined.

The weather remained bad in the kapas growing areas of the state, but the good thing is that it is not raining. The picking of kapas has started at some places in the state, so the kapas crops are in need of more sunlight. As per the India Meteorological Department (IMD), the departure of monsoon will be delayed, and rains are expected to continue in the current month.

Traders said that if the rains continue in the kapas growing states, then the quality and the productivity will be affected. In such a situation, uptrend in good quality fibre is expected in near future. Anyway, the CCI and other agencies are left with limited stock of cotton.

According to the Agriculture Ministry, the acreage of kapas is only 22.51 lakh hectares in Gujarat till September 16 in the current kharif season, which is less than 22.79 lakh hectares in the same period of last kharif season.

As per the India Meteorological Department (IMD) between June 1 to September 17, Gujarat region and Saurashtra received 29 percent and 2 percent lower rainfall, respectively. It is to noted that till September 10, deficiency was even higher at 40 and 26 percent, respectively. So there has been a lot of rain throughout the week.


Today market arrivals of new kapas were reported at 400 bales vs 600 bales in the last trading session.

SPOT COTTON PRICES IN MAJOR GUJARAT

MARKET/VARIETY

UNIT

18-Sep

Godown Quality, RD 75+

Rs/Candy

55,500

Running, RD 74

Rs/Candy

54500

Gujrat Kapas NEW

Rs/20 Kg

1100/1550

Gujrat Seed OLD

Rs/20 Kg

810/850

Gujarat V797 A Grade 22-24mm

Rs/Candy

33,500/34,000

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



(By Commoditiescontrol Bureau: +91-22-40015505)


       
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