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Cotton Prices Steady in South India

8 Aug 2020 3:48 pm
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Mumbai (commodities control) - Cotton prices were steady in South Indian markets amid rising cases of corona virus in Andhra Pradesh and Telangana. Most of the mandis are shut.

Karnataka reported arrivals of 300 bales of cotton, while arrivals of 200-300 bales were registered in Andhra Pradesh and Telangana mandi. Kapas was quoted at Rs 3600-4400. Cotton seed was quoted at Rs 2350 - 2500 and cocud was priced at Rs 2200-2250.

30mm cotton in Karnataka was quoted at Rs 35,100-35,200 and 29 mm was priced at Rs 34,400-34,800 per candy. DCH was quoted at Rs 54,300-55,300 per candy.

28 mm in Bhainsa was quoted at Rs 29,800-30,300 and 29.5+mm cotton was priced at Rs 33,800-34,300 per candy.

Traders confirm that heavy rains have disrupted trade in Karnataka mandis. Sellers are unwilling to lower prices due supply shortage with mills.

Although cotton acreage in south India is racing ahead due to conducive weather conditions. Telangana cotton acreage is racing ahead by 5.53 Lakh hectares, while in Andhra Pradesh and Karnataka the cotton sowing is higher by 58,000 ha and 35,000 ha, respectively.

Although traders clarify that the new crop will not arrive before November and CCI is unlikely to reduce its stock price, hereon.

According to the CCI's new discount scheme 27-30 mm cotton in Adilabad was quoted at Rs 35,500-37,000 per candy and 28-30 mm in Warangal was priced at Rs 35,900-37,000 per candy. In Hubli of Karnataka, CCI has quoted 28-30mm cotton at Rs 35,500-37,000 per candy.

(Commodities Control Bureau)

       
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