The Hindu Business Line : Lint prices remain firm

Coimbatore May 21 Cotton lint prices remained steady during the first fortnight of May. Anticipating early onset of South West monsoon, growers have started preparations for the next growing season.

According to the South India Cotton Mills' Association sources, seed cotton arrivals continued in small quantities in Gujarat during the last fortnight.

The latest survey reveals that the arrival volumes (all India) crossed 256 lakh bales so far against 222 lakh bales during the corresponding period of the earlier year.

Lint prices in Punjab, Haryana and Rajasthan ruled steady. Desi lots quoted between Rs 1,500 and Rs 1,650 per maund spot, whereas the J 34 saw ginned ruled between Rs 1,860 and Rs 1,920 per maund spot.

Market remained steady in Gujarat and Madhya Pradesh. Shankar 6 ranged between Rs 18,500 and Rs 18,800 per candy spot, V797 in the Rs 14,700 and Rs 15,000/candy range and the MECH 1 and H4 around Rs 18,500/candy.

In Maharashtra, lint prices ranged between Rs 17,800-18,800 for fibre with 28 to 30mm strength.

Andhra Pradesh MCU 5 ruled between Rs 19,600-21,800/candy. DCH 32 (Karnataka) touched a high of Rs 32,000/candy.

The sources said that mills in Tamil Nadu had started to look for quality lots at reasonable rates.

In the international market, lint prices during the last fortnight witnessed an easy trend with New York rates quoting around 48-53 cents per pound.