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Cotton Prices Steady In Maharashtra amid Dull Trading Session

14 Aug 2020 3:41 pm
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Mumbai (commodities control) - Cotton prices were quoted steady in Maharashtra mandis amid dull Trading Session due heavy rains reported in the region.State arrivals, today, were registered at 800 bales, down 200 bales from previous session. Kapas was quoted at Rs 4200-4500 and cottonseed was priced at Rs 2250-2450/quintal and cotton seed cake was quoted at Rs 1950-2150/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.

Nagpur-Yavatmal Line 30+mm cotton was quoted at Rs 35,200 and 29+MM was priced at Rs 34,700/candy. Meanwhile Jalgaon line 29+mm was quoted at Rs 34,300-34,500/candy.

Akola-Marathwada line 29mm cotton was priced at Rs 34,200 and 28.5+MM cotton were quoted at Rs 32,600-33,000/candy. 28 mm cotton was priced at Rs 31,300 - 600 per candy.

Traders confirm that mandi operations are affected due to rains in the area. Although prices were stable tracking CCI rate hike.

Cotton Corporation of India is auctioning its cotton under new discount scheme. According to the scheme 28-30 mm cotton in Akola and Aurangabad are quoted at Rs 35,700-37,200 per candy. The scheme is inclusive of Rs 300-1500 per candy of quantative discounts.

(Commodities Control Bureau)

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