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Cotton Prices Steady In Maharashtra

11 Jul 2020 4:38 pm
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Mumbai (commodities control) - Cotton trade were more or less steady in Maharashtra mandis for 2nd trading session in a row.

State arrivals were registered at 8,000 bales. Kapas was quoted at Rs 4300-4650, down Rs 50 and cottonseed was priced at Rs 2250-2500/quintal and cotton seed cake was quoted at Rs 1950-2150/quintal. Nagpur-Yavatmal Line 30+mm cotton was quoted at Rs 34,300 and 29+MM was priced at Rs 33,800/candy. Meanwhile Jalgaon line 29+mm was quoted at Rs 33,600/candy. Akola-Marathwada line 29mm cotton was priced at Rs 33,200-33,400 and 28MM cotton were quoted at Rs 32,200/candy. Traders reveal that rising corona virus cases is the reason behind halting of mill operations in the region. Powerloom at Ichalkaranji have been shut this entire week and will resume operations next week. The situation is even challenging due to lack of labours. Traders attribute the strength in overseas cotton as the reason behind firm prices in the region. Even sellers are unwilling to lower prices. ICE cotton meanwhile has moved past 64.70 cents in October futures; a five months high and has upped 2% this week. Meanwhile CCI is auctioning 28-30 mm cotton in Akola and Aurangabad at Rs 35,100-36,400; inclusive of discounts of Rs 300-1500.

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