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Cotton Prices Steady In Gujarat Amid Heavy Rainfall

4 Jul 2020 6:43 pm
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Mumbai (commodities control) - Gujarat cotton trade was affected by recent rains. Cotton prices were unchanged amid lack of buyers and zero sellers at lower levels.

State registered arrivals of 10,000 bales. Kapas was quoted at Rs 4200-5000. Cottonseed was quoted at Rs 2300-2400/quintal. While cottonseed oilcake traded at Rs 2000-2200/quintal. 29 mm Sankar-6 cotton was quoted at Rs 33,000-33,300 and 28.5+mm cotton was priced at Rs 32,500-33,000 per candy. While 28mm cotton traded in the range of Rs 31,800-32,000/candy. Traders attribute today's dullness to lack of buyers and sellers alike. Heavy rains have been reported in Saurastra and Kutch along with most of Gujarat. Kadi, Surendranagar, Rajkot, Bhavnagar, Ahmedabad and Vadodara have witnessed good rainfall. Meanwhile IMD has declared red alert for Gujarat and has warned about heavy to very heavy rainfall in next 48 hours in Gujarat. ICE cotton prices have upped more than 2%this week and touched 4 months' high.

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