Cotton has been on the decline due to weak demand from domestic mills. Moreover, slow buying by ginners also pushed down kapas or raw cotton.
Traders said that progress of monsoon so far is good in cotton growing areas in Gujarat and farmers are hopeful of good rains. Gujarat Sankar-6 cotton declined ₹200 to ₹34,200-700 per candy of 356 kg. About 5,000 bales (of 170 kg) arrived in Gujarat and 11,000 bales arrived in India.
Kapas was down ₹5 to ₹880-925 for a maund of 20 kg and gin delivery kapas stood at ₹930-945. Cottonseed lost ₹5 to ₹420-435. Almost 345 lakh bales have arrived in the market so far this year and export demand was not high.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.