BL16_COM2__COTTON
Following limited buying by mills, cotton prices remained unchanged in Gujarat on Monday.
According to brokers, arrivals of cotton are increasing and ginning activity is likely to start after Navaratri.
A cotton broker said: “Cotton price may not increase in near future as there is not big demand. Exporters are absent in the market and mills’ buying is limited. Price may decline as arrival is increasing.”
According to a Gondal-based ginner, buying activity is slow and limited as arrival of quality cotton is not enough. The market will be regular after October.
Most of the ginners have not yet started their units as demand is limited and ginners are waiting for arrival to be regular.
In Gujarat, new cotton was offered at Rs 32,200-32,800 a candy of 356 kg. A grade S-6 cotton was at Rs 33,000-33,500 and B grade at Rs 32,800-33,000.
Prices of V-797 ruled at Rs 27,000-27,500.
About 12,000-13,000 bales (of 170 kg each) arrived in Gujarat and 27,000-28,000 bales arrived in India.
In Maharashtra, A grade cotton of low micronaire quoted at Rs 32,500-32,800 and A grade high micronaire cotton (29+ MM) was at Rs 32,800-33,500.
The new crop was quoting Rs 32,000-32,500.
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Published on October 15, 2012
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