Cotton prices remained unchanged following limited demand from domestic mills and exporters.

According to traders, price may not rise in the near-term despite lower arrivals as demand is limited.

Gujarat Sankar-6 cotton ruled at Rs 37,500-37,700 for a candy of 356 kg. V 797 cotton A grade was offered at Rs 27,500-28,000.

Kapas or raw cotton was traded on 965-970 for a maund of 20 kg and gin delivery kapas was quoted at Rs 975-985. About 15,000 bales arrived in Gujarat and 45,000 bales arrived across the country.

A Rajkot-based cotton broker said that south-based mills are active in the market and some exporters also buying to fulfil their orders.

Besides this, there was no any big demand in the market.

According to traders, around 10,000 bales cotton were bought by millers on Friday.

A latest USDA report said that India’s cotton exports are expected to exceed the earlier estimate of 9.2 million tonnes in 2012-13 marketing year ending July, but they are likely to remain down by 34 per cent from the previous year level.

According to the Cotton Advisory Board (CAB), cotton production estimate has been revised upward to 34 million bales for 2012-13.

Published on May 10, 2013