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Cotton prices moved down on weak domestic demand. Kapas or raw cotton too decreased as demand from ginners reduced. Traders said that overall demand was very slow from both exporters and mills. Because of dull quality stock and farmers’ expectation of high prices, demand was down in past few days. Gujarat Sankar-6 cotton was down by ₹300 to ₹34,500-35,200 per candy of 356 kg. About 5,000 bales (of 170 kg) arrived in Gujarat and 12,000 bales arrived in India. According to traders, cotton prices may not decline much as this year stock position is very tight. Kapas lost ₹10 to ₹910-925 for a maund of 20 kg and gin delivery kapas was at ₹925-940. Cottonseed was unchanged at ₹435-440.
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