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Cotton prices declined on rising arrivals of the new crop. Moreover, slow demand from mills also pushed the price down on Friday. Traders said that during the past two weeks arrival of the new cotton crop has doubled but mills’ buying has not risen.
Gujarat Sankar-6 cotton lost ₹300 to ₹40,200-500 per candy of 356 kg. About 85,000 bales of 170 kg arrived across India. Kapas or raw cotton was down ₹15 to ₹850-1,060 per 20 kg and gin delivery kapas stood at ₹1,060-81. Cottonseed remained unchanged at ₹525-550.
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