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Cotton Prices Down In North India On Negative Global Cues, Higher Arrivals

18 Sep 2019 11:57 am
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MUMBAI (Commoditiescontrol) – Cotton prices ruled weak by Rs 15-20 per maund at major markets in Punjab, Haryana and Upper Rajasthan on Wednesday, tracking overnight losses in US natural fibre and on increased arrivals.

While in lower Rajasthan, prices fell by up to Rs 200 per candy.

According to traders, a total of 4,250 bales of cotton today arrived in the entire North India. While arrivals were at 4,150 bales on Tuesday.

Globally, cotton prices on the Intercontinental Exchange (ICE) ended down on Tuesday amid lack of follow-through buying on views that the recent price rise assuming the US-China trade deal prospects were exaggerated.

The most active December cotton contract ended down 1.9 percent at 61.38 cents per lb.

SPOT COTTON PRICES IN MAJOR NORTH INDIAN MARKETS
MARKET/VARIETY UNIT 18-Sep 17-Sep AVERAGE % Change US cent/lb
18-Sep 17-Sep ABS CHANGE*
Punjab J-34 (RG) 27-28.5MM (MIC 4.00-4.7) Rs/maund 4160-4170 4175-4185 4,165 4,180 -15 -0.4 70.74-70.91
Haryana J-34 (RG) 27-28 (MIC 4+) Rs/maund 4130-4130 4150-4150 4,130 4,150 -20 -0.5 70.23-70.23
Rajasthan J-34 (RG) 26.5-28mm (MIC 4.00-4.5) Rs/maund 4130-4130 4150-4150 4,130 4,150 -20 -0.5 70.23-70.23
Note: USD/INR= Rs 71.47
Note: 1 maund = 37.3kg |*Average Change is the difference between average price of current date vs previous date


SPOT COTTON PRICE IN LOWER RAJASTHAN
MARKET/VARIETY UNIT 18-Sep 17-Sep AVERAGE %Change US cent/lb
18-Sep 17-Sep ABS CHANGE*
Lower Rajasthan-Marwad Line 28-29.5 mm (MIC 3.8-4.00) Rs/Candy 39400-39800 39500-40000 39600 39750 -150 -0.4 70.33-71.03
Lower Rajasthan-Mewad Line 27-28mm (MIC 3.00-3.8) Rs/Candy 39000-39400 39000-39500 39200 39250 -50 -0.1 69.62-70.32
Lower Rajasthan-Khairthal Line 29-29.5 mm (MIC 3.8- 4.2) Rs/Candy 39800-40200 40200-40200 40000 40200 -200 -0.5 71.05-71.74
Note: USD/INR= Rs 71.47
Note: 1 candy = 356kg | 1 maund = 37.3kg | 1 Bales= 170 kg
*Average Change is the difference between average price of current date vs previous date

       
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