NEW DELHI, June 25 (Commoditiescontrol) - Cotton prices quoted lower in the mandis of Gujarat for the third straight day on Saturday amid sluggish buying from spinning mills, while daily arrivals stayed unchanged.
According to traders, there has been a big fall in the prices of cotton abroad for the last three days, due to which the spinning mills of the state are procuring only as per their requirement. Therefore, there has been a slowdown in the prices of cotton in the spot. Domestic and export demand in yarn also remains weak, due to which the spinning mills of the state are facing disparity. Although the balance stock of cotton with the mills of the state is less than last year, while imports are not getting competitive too. Therefore, the trend in the prices of cotton in the domestic market will depend on the price of the global market.
As far weather is concerned, it remained inclement in the cotton growing areas of the state.
Today the daily arrival of cotton in the producer mandis of the state stood at 2,500 bales (1 bale -170 kg), unchanged from a day ago.
Cottonseed prices ranged from Rs 600 to Rs 780, while kapas at Rs 1,900 to Rs 2,300 per 20 kg in the state's mandis. Kapas of fardar quality quoted at 1,500 to 2,000 per 20 kg.
The price of A grade cotton was at Rs 94,000 to 95,000 per candy, B grade cotton at Rs 93,000 to 94,000 and average grade cotton at Rs 91,000 to 92,000 per candy in the state's mandis.
Mills of South India did not do any business of cotton today, while godown stock cotton quoted at Rs 97,000 to 99,000 per candy.
The price of new cotton of V797 variety was quoted at Rs 56,000 to Rs 59,000 per candy, while the price of cottonseed of V797 variety was Rs 4,800 to Rs 4,950.
SPOT COTTON COMPLEX PRICE IN MAJOR GUJRAT MARKET |
COTLOOK A INDEX |
150.5 |
ICE COTTON JUL22 |
103.76 |
MARKET/VARIETY |
UNIT |
25-Jun-2022 |
24-Jun-2022 |
AVERAGE |
%Change |
US cent/lb |
25-Jun |
24-Jun |
ABS CHANGE* |
Gujarat S-6 A Grade (29mm) (3.8-4.00 MIC) |
Rs/Candy |
94000-95000 |
95000-96000 |
94500 |
95500 |
-1000 |
-1.06 |
153.12-154.74 |
Gujarat S-6 B Grade (28.5 mm) (3.5-3.7 MIC) |
Rs/Candy |
93000-94000 |
94000-95000 |
93500 |
94500 |
-1000 |
-1.07 |
151.49-153.12 |
Gujarat S-6 C Grade (28 mm) (3.2-3.5 MIC) |
Rs/Candy |
91000-92000 |
92000-93000 |
91500 |
92500 |
-1000 |
-1.09 |
148.23-149.86 |
Gujarat V797 A Grade 22-24mm |
Rs/Candy |
57000-59000 |
57000-59000 |
58000 |
58000 |
0 |
0.00 |
92.85-96.1 |
Gujarat V797 B Grade |
Rs/Candy |
54000-55000 |
54000-55000 |
54500 |
54500 |
0 |
0.00 |
87.96-89.59 |
|
|
|
|
|
|
|
|
USD / MT |
Gujarat Kapas |
Rs/20 KG |
1900-2300 |
1900-2300 |
2100 |
2100 |
0 |
0.00 |
1213.2-1468.62 |
Gujrat Fardar Grade |
Rs/20 KG |
1700-2000 |
1700-2000 |
1850 |
1850 |
0 |
0.00 |
1085.5-127.71 |
Gujarat Seed |
Rs/20 KG |
600-780 |
600-780 |
690 |
690 |
0 |
0.00 |
383.12-49.81 |
Gujrat V797 Seed |
Rs/100 KG |
4800-4950 |
4800-4950 |
4875 |
4875 |
0 |
0.00 |
612.99-632.14 |
Note : USD / INR |
78.305 |
|
Note: 1 candy = 355.62 kg | 1 maund = 37.3kg |
*Average Change is the difference between average price of current date vs previous date
|
(By Commoditiescontrol Bureau: +91-22-40015505)