Login ID:
Password:
Partner Login
Contact Us : 7066511911

Barring Karnataka, Cotton Prices Mostly Down In Central, South India

17 Jan 2020 1:45 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - Cotton prices remained mostly weak in Central and South India, barring Karnataka on Friday amid sluggish demand from both exporters and mills amid weakness in the global market.

According to traders, buying from exporters has come down due to the decline in the global market. Furthermore, interest of mills on high prices has also been affected. However, it is believed that demand may rise again after a slight drop in prices. So the trend in the market is still bullish.

Cotton price in Karnataka rose by Rs 100 due to the boycott of CCI's cotton by the mills.

Arrivals today stood at 48,000 bales in Gujarat, 58,000 bales in Maharashtra and 14,000 bales in Madhya Pradesh, 25,000 bales in Andhra Pradesh & Telangana and 12,000 bales in Karnataka.

Globally, US cotton futures on ICE dipped on Thursday as traders remained uncertain about cotton imports from China even after the signing of the Phase 1 trade deal, amidst lingering concerns of dampening demand of the fiber within China.

Cotton March contract fell 10 points to close at 70.22 cents per lb after moving in the range of 69.73 to 70.38 cents a lb.

The United States and China on Wednesday signed the Phase 1 trade deal, meant to reduce tensions after nearly two years of a tit-for-tat tariff war. The centrepiece of the trade deal is a pledge by China to purchase at least an additional USD 200 billion worth of US farm products and other goods and services over two years, above a baseline of USD 186 billion in purchases in 2017, the White House said.

However, China's pledge to buy US farm goods based on "market conditions" during the deal signing ceremony added to doubts among farmers and commodity traders over Beijing's lingering tariffs on US exports.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
ICE Cotton Ends Weak On Dollar Strength; Eyes On Expor...
Cotton Prices Steady To Firm In Central, South India
India's 2019-20 Daily Cotton Arrivals Up 43.7% Y/Y At 1...
Cotton Gains Further In North India On Mills' Demand
Cotton Complex – Cotton No. 2 (COT) – Tightening-up Sho...
more
Top 5 News
B30 Biodiesel Mandate To Be Rolled Out In Malaysia By 2...
Crude Declines On Demand Worries As Epidemic Spreads Be...
Data/Events To Watch (GMT) – 21st February
Comex Gold Near 7-Yr Top On Lingering Fear Of Damage To...
CBoT Soybean Falls On China Demand Concerns, Brazil’s B...
Top 5 Special Reports
Higher Prices Deteriorate Palm Oil Demand In India; Edi...
USD/INR (Feb. ’20) – Neutral Stance: Prices Consolidati...
Chana Indore (Kabuli 42-44 Count Spot) - Bearish Price ...
Mumbai Lentil (Masoor) - Pullback Extends Further / Nex...
Kolkata Pea(Matar)-May Decline Further Towards Channel ...
Copyright © CC Commodity Info Services LLP. All rights reserved.