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Cotton Demand Eases at Higher Price Levels in Lower Rajasthan

5 Aug 2020 2:55 pm
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Mumbai (commodities control) - Cotton prices were steady amid dull trade and scattered rains in Lower Rajasthan. Cotton prices gained Rs 800 in last one week. Cottonseed prices were quoted at Rs 2500-2800 and cottonseed oil cake quoted at Rs 2100-2250 per quintal.

Marwad line 28-29.5 mm cotton was quoted at Rs 32,700-33,600 and Mewad line 27-28 mm variety was at Rs 31,100-32,600/candy. Alwar Line 29-29.5 mm cotton was quoted at Rs 33,700-34,100/candy. 29.5MM cotton in Pilani was quoted at Rs 3600-3620/maund.

Traders confirm that mill buys have slowed, although sellers are unwilling to lower their rates. Seller sentiment is supported by strength in global markets. International Cotton prices are trading at one month's high.

Cotton Corporation of India is auctioning its cotton under new discount scheme. According to the scheme 27-28 mm cotton in Bhatinda of Punjab and Sirsa of Haryana was quoted at Rs 35,200-35,600 and Rs 35,400-35,800 per candy in Bhilwada of Rajasthan. The scheme is inclusive of Rs 300-1500 per candy of quantative discounts.

(Commodities Control Bureau)


       
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