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Cotton gains in Lower Rajasthan on improved demand

1 Oct 2022 9:07 pm
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NEW DELHI, Oct 1 (Commoditiescontrol): Cotton prices gained in the mandis of lower Rajasthan on Saturday, snapping 5-day losing streak, as demand from mills improved, while daily arrivals were reported higher.

According to traders, the prices of cotton improved in the state today, mainly tracking the overnight upside in the global market. However, spinning mills are procuring cotton only as per the requirement at higher prices, as the arrival of new cotton in the state's mandis is increasing continuously. With the weather has cleared up in the cotton producing areas of the state, the arrival of new cotton in the mandis will increase further in the current month, while the local and export demand in the yarn remains weak, due to which the spinning mills are facing disparity at the current price of cotton. Therefore, cotton prices are expected to fall further.

In Rajasthan, cotton sowing has increased to 6.83 lakh hectares in the current kharif season as against 6.29 lakh hectares over the same period last year. According to the India Meteorological Department (IMD), in the current season from October 1 to September 30, western Rajasthan has received 57 per cent above normal rainfall and eastern Rajasthan 24 per cent above normal.

A total 4,500 bales of kapas arrived today in the state, up from 4,200 bales a day ago.

In Alwar, Khairthal and Behror lines of the state, the price of 28.5 mm cotton was at Rs 66,000-67,000 per candy (one candy - 356 kg).

In Mewar/Vijaynagar line, there is no availability of premium quality cotton of 28 mm.

Cotton prices in Marwar line quoted at Rs 66,000 - 67,000 per candy.

Cotton prices in Beawar line were Rs 66,000 - 67,000 per candy.

Cottonseed prices ranged from Rs 3,600 to Rs 3,700 per quintal in the state's mandis, while kapas at Rs 8,000-9,000 per quintal.



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

       
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