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M.P Cotton Jumps Rs 200 amid Mill Purchases

4 Aug 2020 3:40 pm
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MUMBAI (commodities control) - Cotton prices were quoted Rs 200 higher in Madhya Pradesh amid firm cues in North Indian mandis and encouraging mill purchases.

After Saturday's price rise of Rs 200, this is the second trading session of rise. Markets were shut on Monday on the occasion of Raksha Bandhan. Cottonseed was priced at Rs 2200-2450/Candy. cottonseed cake traded at Rs 2100-2200/quintal.

29 mm cotton in MP was priced at Rs 33,900-34,200/Candy and 28-28.5 mm cotton was priced at Rs 30,700-31,200. Meanwhile DCH 34-35 mm was quoted at Rs 53,200-54,200/candy.

Traders reveal that mill operations have improved tracking better global market sentiments. Millers are now running short of supplies.

Cotton Corporation of India is auctioning its cotton under new discount scheme. The new scheme is applicable during August 1-15. According to the scheme 27-30 mm cotton in Indore is quoted at Rs 35,300-37,700 per candy. The scheme is inclusive of Rs 300-1500 per candy of quantative discounts.

(Commodities Control Bureau)

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