Login ID:
Password:
Partner Login
Contact Us : 7066511911

Cotton gains in Karnataka amid higher offtake

10 Aug 2022 3:32 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI, Aug 10 (Commoditiescontrol) - Cotton prices ruled firm in the mandis of Karnataka on Wednesday amid increased demand from spinning mills, while daily arrivals remained steady in the state.

According to traders, there was a rise in the prices of cotton in the global market on Tuesday, due to which the prices climbed in the domestic market also due to the weakening of the selling from the Ginners. However, the spinning mills do not seem to be getting parity on increased prices of cotton. Therefore, they are procuring cotton only as per the requirement as the local and export demand for yarn is weak. The arrival of new cotton crop in the producer mandis of the state will start only in September and October. Therefore, there is no possibility of a major fall in the prices of cotton in the state mandis.

As far as weather is concerned, it remained inclement in the state.

An uptrend was seen in cotton and kapas prices in the domestic futures market today afternoon with April'23 futures contract of kapas on the NCDEX edged higher by 0.09 percent. The August month cotton contract on the MCX also climbed by Rs 430 at Rs 48,760 per bale (1 bale -170 kg).

A total 50 bales of 170 kgs each of cotton arrived in the mandis of the state today, unchanged from a day before.

In the state mandis, the price of cottonseed was Rs 3,500 to Rs 4,300 and that of cotton was Rs 10,000 to Rs 11,000 per quintal today.

The price of 29.5/30 mm cotton quoted at Rs 94,000 to Rs 96,000, 29.5 mm of cotton at Rs 92,000 to Rs 94,000 and 29 mm at Rs 90,000 to Rs 92,000 per candy.

SPOT COTTON COMPLEX PRICE IN KARNATAKA MARKET COTLOOK A INDEX 114.4 ICE COTTON DEC22 98.65
MARKET/VARIETY UNIT 10-Aug-2022 9-Aug-2022 AVERAGE %Change US cent/lb
10-Aug 09-Aug ABS CHANGE*
Karnataka 30/30+mm (MIC 3.8-4.0) Rs/Candy 94000-96000 93000-95000 95000 94000 1000 1.05 150.77-153.98
Karnataka 29.5mm Rs/Candy 92000-94000 91000-93000 93000 92000 1000 1.08 147.56-150.77
Karnataka 29 mm Rs/Candy 90000-92000 89000-91000 91000 90000 1000 1.10 144.36-147.56
USD / MT
Karnataka Kapas new Rs/100 KG 10000-11000 10000-11000 10500 10500 0 0.00 1257.51-1383.27
Karnataka Seed Rs/100 KG 3500-4300 3500-4300 3900 3900 0 0.00 440.13-540.73
Note : USD / INR 79.522
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)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   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
Oil Spot Prices - 1 Oct 2022
Mustard seed trades flat, oil and cake prices fall fur...
Indonesian cuts duty/levy on palm oil exports
CBOT soybean futures see steep fall due to increased U....
Veg Oil Duty Calculation - 30 Sep 2022
more
Top 5 News
Cotton weakens further in Maharashtra amid lacklustre d...
Cotton falls for 6th straight day in Gujarat amid subdu...
Season 2021-22: Kapas arrivals at 31,000 bales on Oct 1...
Burma Urad-Tur prices in $ terms at Chennai
Branded processed pulses at Mumbai APMC market- 1st Oct...
Top 5 Special Reports
Weekly: For ICE raw cotton futures its weekly, monthly,...
Cotton prices fall as new crops reach local markets; pr...
Weekly: ICE raw sugar settled Oct contract expiry highe...
Incessant rains destroy standing pulses crop in Nasik
T Rajkumar unanimously re-elected as Chairman of CITI ...
Copyright © CC Commodity Info Services LLP. All rights reserved.