Cotton wilts on rising arrival

Cotton prices declined on Monday as supply of new crop increased from producing belt. Moreover, slow demand from domestic mills also pressurised the prices of the fibre . Gujarat Sankar-6 cotton was down by ₹300 to ₹45,000-46,000 per candy of 356 kg. New cotton was traded at ₹43,000-43,500 per candy. About 48,000 bales (of 170 kg) arrived in India. According to traders, cotton prices may decline further during this week on slow demand. Kapas or raw cotton too decreased as ginning demand was weak. It lost ₹20 to ₹950-1,130 per 20 kg and cottonseed stood at ₹521-560 per 20 kg.