Ahmedabad, September 9 (CommoditiesControl): The cotton market in Gujarat has shown stability today, with prices holding steady at Rs 60,000 per candy. This price stability is attributed to the currently subdued demand from spinning mills across the state. Traders report that there is no significant increase in purchasing activity, with many market participants adopting a wait-and-see approach as they anticipate the arrival of new cotton.
The volume of new Kapas arriving in Gujarat remains low, but there is optimism that arrivals will pick up post-September 15, especially if favorable weather conditions persist. Market discussions suggest that a noticeable arrival of new Kapas may commence following Navratri festivities.
Today’s trading saw new Kapas arrivals in Rajkot and Upleta Mandi of Saurashtra. At Upleta, new Kapas was traded at Rs 3,333 per 20 kg, with arrival quantities around 150 kg.
Current price levels for cotton in the state are as follows:
- 29mm cotton: Rs 59,500-60,200 per candy, each candy weighing 356 kg.
- 28.5mm cotton: Rs 58,500-59,000 per candy
- V 797 variety: Rs 43,500-44,000 per candy
The average price for Kapas stands between Rs 1,450-1,600 per maund, each maund weighing 20 kg. The state saw an arrival of approximately 1,500 bales of cotton today, with each bale weighing 170 kg.
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(By CommoditiesControl Bureau; +91-9820130172)
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