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Cotton down for 3rd straight day in Gujarat amid lacklustre buying

25 Jun 2022 5:24 pm
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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)


       
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