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Cotton Remains Steady In Centra/South India Amid Listless Activity

10 Aug 2018 3:41 pm
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MUMBAI (Commoditiescontrol) – Cotton price ruled mostly flat at the key markets of central and south India as business activity remained subdued due to thin arrivals amid fag-end of the season.

Business volume is poor in cotton market due to lean season with arrivals are almost negligible, said a trader from Ahmedabad.

Cotton stocks as on July 31 estimated at 20.80 lakh bales with CCI, MNCs and Ginners, according to CAI. Stocks with mills were estimated at 42.65 lakh bales, which is less than two months of consumption.

CAI has projected closing stock for the season 2017-18 (Oct-Sept) at 22 lakh bales, down from 36 lakh bales a year ago.

Lower carry over stocks coupled with decline in acreage and dry weather in key belts may keep cotton prices elevated, according to traders.

Market players are mostly on the sideline at present and having close eye on sowing as well as weather developments, which is key to set future market trend.

(By Commoditiescontrol Bureau; +91-22-40015533)

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