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Cotton price increased on Friday, as arrivals dipped before Holi . Besides, demand from mills in the South also supported the rise.
Gujarat Sankar -6 cotton was up by Rs 300-500 to Rs 59,000-59,500 a candy. Raw cotton stood at Rs 6,750-6,800 a quintal with a gain of Rs 125. About 25,000 bales arrived in Gujarat and 65,000-70,000 in the rest of the country.
Mr Avdhesh Sejpal, a cotton broker, said, “Farmers are in festive mood, so raw cotton arrivals are decreasing.”
He said, “After Holi , farmers will bring their stocks to the market, which will bring the prices down.”
Cotton Corporation of India, on its Web site, has said as on March 13, 245.35 lakh bales of raw cotton arrived in markets across India. Last year at the same time, cotton arrivals stood at 241.40 lakh bales. The per-day arrivals are reported around 1,32,000 bales for this year. Cotton output was estimated at 312 lakh bales in 2010-11, against 295 bales in the last season.
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