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Gujarat Cotton Prices Steady amid Falling Acreage

8 Aug 2020 3:09 pm
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Mumbai (commodities control) - Gujarat cotton Prices were quoted steady amid heavy rains in Saurashtra in last 24 hours.Cotton arrivals of 4000 bales were registered in the state mandis. Kapas was quoted at Rs 4000-4500. Cottonseed was quoted at Rs 2200-2350/quintal, While cottonseed oilcake traded at Rs 2000-2150/quintal, down Rs 100.

29 mm Sankar-6 cotton was quoted at Rs 34,200-34,700 and 28.5+mm cotton was priced at Rs 33,300-33,500 per candy. While 28 mm was priced at Rs 32,300-32,700 per candy.

Traders reveal that incessant rains in Saurashtra has disrupted trades in the regional markets. Even global cotton collapsed in the previous session, leading to weak demand at higher levels. Having said so, sellers are missing at lower price levels due to reduced cotton acreage in the state. Area under cotton cultivation is down 9% so far.

According to CCI's new discount scheme 28.5 mm cotton in Rajkot was quoted at Rs 36,000 per candy and 26-28.5 mm was priced at Rs 35,000-36,000 per candy in Ahmedabad. The scheme is inclusive of Rs 300-1500 per candy of quantative discounts.

(Commodities Control Bureau)

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