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Cotton price moved down on the back of poor demand from domestic mills at higher level. Kapas or raw cotton too declined marginally as ginning demand was weak.
Gujarat Sankar-6 cotton lost ₹100-200 to ₹33,200-400 per candy of 356 kg. About 25,000 bales (of 170 kg each) arrived in Gujarat and 1.90 lakh bales arrived in India. Kapas was down by ₹5 to ₹800-815 for a maund of 20 kg and gin delivery kapas was ₹815-830. Cottonseed was quoted ₹345-352.
The Cotton Corporation of India has been actively buying under a market intervention scheme and has bought 2.5 lakh bales.
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