Cotton may inch down

Cotton prices decreased by ₹150/quintal at Bhoodapady this week, though the market witnessed lower arrivals. Some 207.6 tonnes of Bt cotton arrived and the entire quantity was purchased by spinners . A spokesperson of the Regulated Market Committee said that some growers of South and Westare supplying the cotton at ₹5,100 to spinning mills at the factory gate.. Similarly, at the Anthiyur Regulated Market Committee over over180 tonnes were sold for ₹4,800-5,200 a quintal. In the Bhoodapady Regulated Market Committee, Bt cotton was sold at ₹4,900-5,300. Growers said though the cotton production was low during this year, the price did not improve. Some traders said that the price will edge down next week.