Commodities

Cotton to fall on torrential rain

Our Correspondent Rajkot | Updated on July 14, 2014 Published on July 14, 2014

Cotton prices dropped as rains lashed several parts of Gujarat, mainly the Saurashtra region. Moreover, demand from domestic mills too is on the decline. Traders said that rain has started in many parts of Gujarat in past two days which may speed up sowing in the State. Price may decrease further in coming days. Gujarat Sankar-6 best quality cotton lost ₹100 to ₹42,000-43,300 a candy of 356 kg. B-grade cotton was ₹40,000-41,000 and lower quality cotton ₹35,000-37,000. About 10,000 bales of 170 kg each of cotton arrived in Gujarat and 22,000-23,000 bales arrived in India. Kapas or raw cotton was down marginally on weak ginning demand. Kapas declined by ₹10-15 to ₹900-1,070 for a maund of 20 kg and gin delivery kapas was ₹1,070-75.

Published on July 14, 2014
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