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Cotton Prices Firm in M.P. due to Strong Mill Demand

12 Aug 2020 3:30 pm
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MUMBAI (commodities control) - Prices of Madhya Pradesh Cotton were quoted Rs 100-200 higher due to firm mill demand and limited stocks in the market.

Cottonseed was priced at Rs 2200-2400. cottonseed cake traded at Rs 2000-2200/quintal, up Rs 50.

29 mm cotton in MP was priced at Rs 34,700-35,000/Candy and 28-28.5 mm cotton was priced at Rs 30,500-31,500. Meanwhile DCH 34-35 mm was quoted at Rs 53,300-54,000/candy.

Traders reveal that weak trading activity has been witnessed in 28-28.5 mm cotton variety. Although selective cotton varities are trading firm due to higher trade deals. There's demand for good quality cotton in the mandis. Meanwhile smaller mills are refraining from making purchases with CCI at due to their high rates.

Cotton Corporation of India is auctioning its cotton under new discount scheme. According to the scheme 27-30 mm cotton in Indore is quoted at Rs 35,600-38,000 per candy. The scheme is inclusive of Rs 300-1500 per candy of quantitative discounts.

(Commodities Control Bureau)

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