Commodities

Cotton may slide on weak export offtake

Our Correspondent Rajkot | Updated on March 25, 2013 Published on March 25, 2013

BL26_COM2_COTTON_2

Cotton prices were almost steady on the back of lower export demand. According to market sources, the overall trend is negative and cotton prices may decline this week.

Gujarat Sankar-6 cotton quoted at Rs 38,000-38,200 a candy of 356 kg. B-grade cotton was traded at Rs 37,700-37,900. V-797 cotton A grade was Rs 30,000-30,500.

About 28,000-30,000 bales of cotton (of 170 kg) arrived in Gujarat and 90,000 bales arrived across the country.

A Rajkot-based cotton broker said that due to financial year-end demand was limited and it may decline further . Cotton prices also may come down by Rs 500-700 a candy this week.

Kapas price was down by Rs 5-7 to Rs 960-990 for 20 kg in Saurashtra region. According to market sources, APMCs in Gujarat will close for week due to financial closing.

A grade cotton quoted between Rs 37,500 and Rs 38,500 a candy and Rs 37,500-38,700 in Madhya Pradesh.

Traders said that local mills scaled down buying ahead of yearly account closing. Although demand may again improve from next month as mills don’t have much stock, they added.

An Ahemdabad-based trader said that export demand, particularly from Pakistan, may also pick up if prices fall below Rs 38,000 a candy as spinners are facing shortage of quality cotton there.

Published on March 25, 2013

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.