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Cotton Prices Steady Amid Heavy Downpour in Gujarat

7 Jul 2020 4:48 pm
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Mumbai (commodities control) - Gujarat cotton trade was affected by heavy downpour in Saurashtra.

State registered arrivals of 10,000 bales. Kapas was quoted at Rs 4200-4900. Cottonseed was quoted at Rs 2300-2400/quintal. While cottonseed oilcake traded at Rs 2050-2200/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 this dullness to heavy rains in Saurashtra along with Kutch and major parts of Gujarat.Heavy rains and water logging is disrupting loading activities in the mandis. Most of the mills in the area are shut. According to IMD, 767% over normal rains has been reported in Kutch and Saurashtra. CCI is auctioning 28.5 mm cotton in Rajkot at Rs 35,700 and 26-28.5 mm cotton in Ahmedabad at Rs 34,700-35,700 per candy. This is inclusive of Rs 300-1500 discount given by CCI.

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