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Cotton Traded Down In North India On Slow Mill Buying

11 Dec 2019 12:15 pm
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MUMBAI (Commoditiescontrol) - Cotton prices fell for the second consecutive day in at major markets in North India on Wednesday after gaining sharply on Saturday and Monday. There was limited demand by mills at higher levels at the same time supply was also limited in the open market as farmers preferred to sell to CCI at MSP


A total of 42000 bales of cotton today arrived in North India against 48000 bales on the previous day.

The price of 28+MM cotton in Punjab was quoted down by Rs 13/maund at 3940-3980 per maund, whereas 28MM cotton in Haryana was quoted down by Rs 15/maund at Rs 3,9300-3950 / maund. While in upper Rajasthan 28MM cotton prices remain unchanged at Rs 3,940 per maund.

The average price of kapas in North India was down by at Rs 5,050-5,150/quintal. While cottonseed quoted down by Rs25/quintal at Rs 2,575-2,600/quintal. Cottonseed oil cake,
on the other hand, traded down by Rs 25/quintal at Rs 2,175-2,200 per quintal.

Mills buying was slow at current price as at current price level they are hardly able to break even but in order to continue operation, they are making need-based buying. CCI was the major purchaser at MSP of5450/quintal.

SPOT COTTON PRICES IN MAJOR NORTH INDIAN MARKETS
MARKET/VARIETY UNIT 11-Dec 10-Dec AVERAGE % Change US cent/lb
11-Dec 10-Dec ABS CHANGE*
Punjab J-34 (RG) 27-28.5MM (MIC 4.00-4.7) Rs/maund 3940-3980 3955-3990 3,960 3,973 -13 -0.3 67.53-68.22
Haryana J-34 (RG) 27-28 (MIC 4+) Rs/maund 3930-3950 3945-3965 3,940 3,955 -15 -0.4 67.36-67.7
Rajasthan J-34 (RG) 26.5-28mm (MIC 4.00-4.5) Rs/maund 3940-3940 3940-3940 3,940 3,940 0 0.0 67.53-67.53
Note: USD/INR= Rs 70.91
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 11-Dec 10-Dec AVERAGE %Change US cent/lb
11-Dec 10-Dec ABS CHANGE*
Lower Rajasthan-Marwad Line 28-29 mm (MIC 3.0-3.8) Rs/Candy 37000-38700 37100-38800 37850 37950 -100 -0.3 66.57-69.61
Lower Rajasthan-Mewad Line 28-29mm (MIC 3.0-3.8) Rs/Candy 37000-38700 37100-38800 37850 37950 -100 -0.3 66.57-69.61
Lower Rajasthan-Khairthal Line 29-29.5 mm (MIC 3.8- 4.2) Rs/Candy 38000-38700 38100-38800 38350 38450 -100 -0.3 68.37-69.61
Note: USD/INR= Rs 70.91
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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