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Cotton Bounces Back In Central, South On Active Buying

22 Aug 2019 2:10 pm
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MUMBAI(Commoditiescontrol) – Cotton prices traded higher in Central, Southern spot markets as buying picked up in many markets.
Prices were up by Rs. 450-500 per Candy in Gujrat. Similarly, in Maharashtra it traded higher by Rs. 200 per Candy. In Madhya Pradesh, it was sharply up by Rs. 400per Candy. Prices were mostly steady to firm in the South, as it was up in Guntur Market by Rs. 100 per Candy and in Telangana, Karnataka it was unchanged from the previous session.
As the new crop arrivals are expected to delay, mills are covering their near term requirements. Active buying was seen in the markets.
Globally, the most active December contract on ICE ended up 1.4% at 59.94 cents per lb.
On MCX, Cotton for delivery in August was up by 0.14% at Rs. 21,170 per Bale of 170 kg each.

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