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Lower Rajasthan: Cotton Soars Rs 700 This Week

14 Aug 2020 3:11 pm
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Mumbai (commodities control) - Tracking postove cues in North Indian mandis, mill demand and tight stocks, cotton prices have risen nearly Rs 200 per candy in Lower Rajasthan. Prices have now upped Rs 700 per candy this week so far. Cottonseed prices were quoted at Rs 2400-2600 and cottonseed oil cake quoted at Rs 2200-2275 per quintal.

It is to be noted that CCI has raised the rates of cotton, under its discount scheme, by Rs 200 per candy. The price rise will be applicable in all its centres across all the varieties. The agency decided to hike cotton prices tracking firm trend in global markets. This is the third price hike this month taking the total rise to Rs 600 per candy.

Marwad line 28-29.5 mm cotton was quoted at Rs 33,200-33,800 and Mewad line 27-28 mm variety was at Rs 31,500-33,400/candy. Alwar Line 29-29.5 mm cotton was quoted at Rs 34,800-35,000/candy. 29.5MM cotton in Pilani was quoted at Rs 3600-3630/maund.

Traders attribute the firmness in cotton prices to strong global cotton prices, as CCI raised its cotton rates. Prices are additionally supported by weak supplies in the market. Sellers are unavailable at lower rates.

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 35,700-36,100 and Rs 35,900-36,300 per candy in Bhilwada of Rajasthan. The scheme is inclusive of Rs 300-1500 per candy of quantitative discounts.

(Commodities Control Bureau)

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