Agri Business

Cotton stable on lower offtake by exporters

Our Correspondent Rajkot | Updated on January 05, 2011 Published on January 04, 2011

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Cotton prices remain unchanged on the first day of the week as demand from export side is still below expectations. At present, south Indian mills are buying according to their requirement.

On Monday, Gujarat Sankar-6 variety cotton was traded on Rs 42,700-43,000 a candy of 356 kg, while raw cotton price was quoted Rs 900-940 for a maund of 20 kg. In Rajkot Agricultural Produce Marketing Committee (APMC) yard, 25,000-30,000 maund raw cotton arrived and price was Rs 885-930, Jasdan arrival was 10,000-15,000 maunds and price Rs 850-935, at Botad 35,000 maunds arrived and price Rs 895-951.

According to market sources,exporters have 15 lakh bales stock on hands. A Rajkot-based broker, Mr Avadhesbhai Sejpal, said: “For some time, cotton price will remain stable as demand and supply is equal. Cotton may increase after a month or if government will allow more export.”

Arrivals are lower as the gap between second and third flowering of cotton crop is short. But it will be normal within a short period, said traders.

In Andhra Pradesh, cotton prices ruled steady with arrivals being lower than Saturday.

In Adilabad, prices ruled above Rs 4,200 a quintal, while they were a tad lower in Guntur.

In Khamman, too, prices were firm, while rates were above Rs 4,500 in Khamman district.

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Published on January 04, 2011
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