Login ID:
Partner Login
Contact Us : 7066511911

Cotton moves lower in Gujarat as buying from mills softens

19 May 2022 4:32 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI, May 19 (Commoditiescontrol) - Cotton prices moved lower in the mandis of Gujarat on Thursday due to lower buying from mills, while daily arrivals stayed unchanged.

Meanwhile, the weather is clear in the cotton producing areas of the state. According to traders, due to the fall in the prices of cotton in the global market for the second consecutive day, prices in the domestic market also moved lower today. However, the recent increase in cotton prices in the domestic market has not been able to commensurate with the increase in yarn prices, due to which the mills are buying cotton only as per the requirement. However, due to the reduction in the production estimate of cotton in the current season, most of the spinning mills in the state have a stock of cotton for the month to one and a half months for consumption, while the arrival of the new crop will start in October. Therefore, there is no possibility of a major fall in cotton prices in the spot market.

A mixed trend was seen in cotton and kapas prices in the domestic futures market today with April'23 futures contract of kapas on the NCDEX edged down by 0.05 percent, while the May month cotton contract on the MCX climbed by Rs 90 at Rs 49,160 per bale (1 bale -170 kg).

Today the daily arrival of cotton in the producer mandis of the state stood at 7,000 bales, unchanged from a day before.

Cottonseed prices ranged from Rs 600 to Rs 810, while kapas at Rs 2,000 to Rs 2,750 per 20 kg in the state's mandis.

The price of A grade cotton was at Rs 1,00,000 to 1,01,000, B grade cotton at Rs 99,000 to 1,00,000 and average grade cotton at Rs 96,000 to 97,000 per candy in the state's mandis.

The mills of South India purchased cotton at Rs 99,500 to Rs 1,01,000 per candy and godown stock cotton at Rs 1,01,000 to 1,03,000 per candy.

The price of new cotton of V797 variety was quoted at Rs 49,500 to Rs 70,000 per candy, while the price of cottonseed of V797 variety was Rs 4,850 to Rs 5,050.

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

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
Burma, Tanzania Tur rise in Mumbai on improved mills bu...
Chana trades unchanged at Delhi on limited mill buying
NAFED Procures 5,374 MT Moong In Rabi-2022 Season So Fa...
NAFED Procures 14,13,932 MT & FCI 73,692 MT Chana In Ra...
Branded processed pulses at Mumbai APMC market- 25th Ju...
Top 5 News
India exported 1.8 million tonnes of wheat since ban: G...
LME Stocks: Copper stock rises by 11825 MT
Kandla Vessel Line Up - 27 June 2022
Burma, Tanzania Tur rise in Mumbai on improved mills bu...
Week Ahead: Spice market may witness mixed trend
Top 5 Special Reports
Week Ahead: White Pea prices to remain range bound on l...
Week Ahead: Moong prices unlikely to see fall from curr...
Week Ahead: Kabuli Chickpea to trade on higher side ami...
Week Ahead: Chana may trade firm on increase in seasona...
Week Ahead: Masoor imports may increase as landed cost ...
Copyright © CC Commodity Info Services LLP. All rights reserved.