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Demand from mills and exporters buoyed cotton by Rs 200 a candy of 356 kg on Monday.
The Sankar-6 variety was traded at Rs 34,100-34,400 a candy, up Rs 200. While about 62,000 bales of 170 kg each arrived in Gujarat, 1.9 lakh bales arrived in rest of the country. Kapas or raw cotton was up Rs 10 at Rs 840-845 for a maund of 20 kg here, while it fetched Rs 860-865 for delivery to Kadi.
In Maharashtra, average new cotton quoted at Rs 31,800-32,500 a candy and A-grade 29 mm at Rs 33,000-33,400 a candy. In Madhya Pradesh, average new cotton quoted at Rs 31,800-32,500 a candy and A-grade cotton 29 mm at Rs 33,000-33,400 a candy.
Arrivals till December 25 in the current season that started October 1 stood at 8.81 million bales, 25.26 percent less than in the same period last year. Daily average arrivals were reported at 2 lakh bales.
Demand is up at lower prices, said a Rajkot-based broker. Because of a holiday there were no export enquiries.Prices were unchanged in North India despite higher arrivals. Traders said prices are unlikely to fall much as mills have increased purchases.
In North India, 35,000 bales of new cotton arrived. Ready delivery cotton traded at Rs 3,410-3,445 a quintal in Punjab, at Rs 3,335-3,355 in Haryana and at Rs 3,335-3,355 in Rajasthan.
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