Ahmedabad, September 11 (CommoditiesControl): The cotton market in Gujarat maintained stability today, with prices holding steady. Traders reported that spinning mills are currently not engaging in significant buying activity as they await a more substantial arrival of new Kapas.
The arrival of new Kapas in Gujarat has begun but is progressing at a slow pace. Traders estimate that arrival of over 10,000 maunds, each maund weighing 20 kg, of new Kapas have been recorded today across the state. The newly arrived Kapas contain higher moisture levels; however, if rainfall does not occur, better quality dry Kapas is expected to be available within a week. Ginning mills in the region are anticipated to commence operations around Navratri.
Pricing in the Gujarat cotton market remained unchanged, with 29mm cotton priced between Rs 59,500 and Rs 60,000 per candy, each candy weighing 356 kg. The 28.5 mm variety was priced at Rs 58,700 to Rs 59,200 per candy, while V 797 cotton was valued between Rs 43,000 and Rs 43,500 per candy. The average price for Kapas stood at Rs 1,450 to Rs 1,600 per maund. Additionally, about 1,600 bales, each bale weighing 170 kg, of cotton arrived in the state today.
Meanwhile, ICE cotton futures saw a rise on Tuesday, influenced by concerns over the Kapas crop due to Tropical Storm Francine. The storm poses a threat to key Kapas-producing areas in the US Gulf Coast. The price for the December 2024 futures contract increased by 0.52 cents, reaching 68.21 cents, while the March 2025 futures contract saw a rise of 0.38 cents, reaching 69.84 cents.
(By CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
