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MP Cotton Prices Reported Steady

14 Aug 2020 3:34 pm
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MUMBAI (commodities control) - Prices of Madhya Pradesh Cotton were quoted steady after having risen Rs 400 per candy this week. CCI has raised the cotton prices under its discount scheme by Rs 100 in M.P. Cottonseed was priced at Rs 2200-2400. cottonseed cake traded at Rs 2000-2200/quintal.

It is to be noted at CCI has raised the base price of its cotton by Rs 100 per candy, under the discount scheme. The agency has upped the rates tracking strength in global cotton benchmark. This is the third time, CCI has hiked its base price taking the total hike for the state to Rs 500 this month.

29 mm cotton in MP was priced at Rs 34,900-35,200/Candy and 28-28.5 mm cotton was priced at Rs 31,200-32,400. Meanwhile DCH 34-35 mm was quoted at Rs 53,300-54,000/candy.

Traders reveal that sentiments are positive due to CCI rate hike. Although mandis reported thin transactions due to higher prices.

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 35,700-38,100 per candy. The scheme is inclusive of Rs 300-1500 per candy of quantitative discounts.

(Commodities Control Bureau)

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