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Cotton Rules Mixed In Central, South India On Selective Demand

19 Nov 2019 2:03 pm
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MUMBAI (Commoditiescontrol) - Cotton prices ruled mixed at major markets in Central and South India on Tuesday amid selective demand.

Prices remained weak in Gujarat amid strong arrivals.

According to traders, the arrival in the state is increasing, although the quality is low. The moisture content in the new arrivals is higher than the standard and hence the Cotton Corporation of India is not able to buy properly. It is believed that decline in prices may deepen further with rise in arrivals.

Despite a fall in North India, prices remained unchanged in Madhya Pradesh due to improvement in quality and demand from mills. According to traders, the demand from mills is improving. At the same time, quality has also shown improvement due to stoppage of rain. However, the pace of government procurement is very slow.

In South India, trend remained mixed with prices moved higher in Telanaga, while fell in Karnataka. In Andhra Pradesh prices stood unchanged.

Arrivals today stood at 42,000 bales in Gujarat, 22,000 bales in Maharashtra, 6,500 bales in Madhya Pradesh, 19,000 bales in Andhra Pradesh & Telangana and 10,000 bales in Karnataka.

MARKET/VARIETY UNIT 19-Nov 18-Nov AVERAGE %Change US cent/lb
19-Nov 18-Nov ABS CHANGE*
Gujarat S-6 A Grade (29mm) (3.8-4.00 MIC) Rs/Candy 37000-38500 37200-38700 37,750 37,950 -200 -0.53 65.6-68.24
Gujarat S-6 B Grade (28.5 mm) (3.5-3.7 MIC) Rs/Candy 0-0 0-0 - - 0 #DIV/0! 0-0
Gujarat S-6 C Grade (28 mm) (3.2-3.5 MIC) Rs/Candy 0-0 0-0 - - 0 #DIV/0! 0-0
Gujarat V797 B Grade Rs/Candy 31000-32000 31000-32000 31,500 31,500 0 0.00 54.96-56.72
MH 30mm Nagpur Line (3.8-4.2 MIC) Rs/Candy 39300-39300 39300-39300 39,300 39,300 0 0.00 69.68-69.66
MH 29mm+ (3.8-4.00 MIC) Nagpur Line Rs/Candy 38700-38700 38800-38800 38,700 38,800 -100 -0.26 68.61-68.6
MH 29mm+ Jalgaon Line (3.6-3.7 MIC) Rs/Candy 38600-38600 38600-38600 38,600 38,600 0 0.00 68.43-68.42
MH 29mm Akola/Marathwada Line (3.5-3.7 MIC) Rs/Candy 38400-38600 38300-38500 38,500 38,400 100 0.26 68.08-68.42
MH 28.5mm Akola/Marathwada Line (3.5-3.7 MIC) Rs/Candy 0-0 0-0 - - 0 #DIV/0! 0-0
MH 28mm Akola/Marathwada Line (MIC 3.6) Rs/Candy 0-0 0-0 - - 0 #DIV/0! 0-0
MP-MECH 29mm+ (3.7-3.8 MIC) Rs/Candy 38800-39200 38600-39200 39,000 38,900 100 0.26 68.79-69.48
Telangana - Bhainsa 29.5mm (MIC 3.8-4.1) Rs/Candy 0-0 0-0 - - 0 #DIV/0! 0-0
Telangana - Bhainsa 29mm (MIC 3.5-3.8) Rs/Candy 37500-39500 37500-39000 38,500 38,250 250 0.65 66.48-70.01
AP - Guntur A Grade (30-31mm) (MIC 4.2 -4.6) Rs/Candy 37000-38000 37000-38000 37,500 37,500 0 0.00 65.6-67.36
Karnataka 29mm (MIC 3.8-4.0) Rs/Candy 39600-39600 39800-39800 39,600 39,800 -200 -0.50 70.21-70.19
Karnataka DCH Rs/Candy 52000-55000 52000-55000 53,500 53,500 0 0.00 92.19-97.49
Note: USD/INR= Rs 71.96
Note: 1 candy = 355.62 kg | 1 maund = 37.3kg |MH - Maharashtra; MP - Madhya Pradesh; AP - Andhra Pradesh
*Average Change is the difference between average price of current date vs previous date

       
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