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Cotton Prices Weaken Rs 200 in Lower Rajasthan

8 Aug 2020 3:01 pm
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Mumbai (commodities control) - Cotton prices fell Rs 100-200 per candy in Lower Rajasthan tracking weakness in North Indian mandis and weak global market cues.

Although Cotton prices gained Rs 900-1000 in last 2 weeks. Cottonseed prices were quoted at Rs 2400-2700, down Rs 100 and cottonseed oil cake quoted at Rs 2100-2250 per quintal.

Marwad line 28-29.5 mm cotton was quoted at Rs 32,600-33,500 and Mewad line 27-28 mm variety was at Rs 31,000-32,500/candy. Alwar Line 29-29.5 mm cotton was quoted at Rs 33,800-34,200/candy. 29.5MM cotton in Pilani was quoted at Rs 3580-3600/maund.

Traders attribute today's weakness to lower global benchmark cotton rates that nosedived 4% in the previous session. Mill demand was near to nil due to high cotton prices.

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 35,300-35,700 and Rs 35,500-35,900 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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