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Cotton Prices Steady In Gujarat amid Reduced Cotton Acreage, Increased Arrivals

28 Sep 2020 3:05 pm
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Mumbai (commodities control) - Prices of cotton were reported to be steady amid weakened demand from yarn mills in Gujarat. It is interesting to note that prices are unchanged despite increased cotton arrivals in the state mandis.

Lower cotton acreage and anticipation of weaker output continues to support cotton prices in Gujarat. According to latest cotton acreage data bu agriculture ministry, lesser area of cotton cultivation is reported from Gujarat where the acreage dropped 3.88 lakh ha, as on 25th September, from last year. Arrivals are seen starting from October and will pick up pace November onwards. Traders await rise in new crop arrivals next month onwards. State registered arrivals of 5,000 bales on Monday vs 4,000 bales in the previous session. Kapas was quoted at Rs 4500-5250 and Cottonseed prices were quoted at Rs 2400-2700 per quintal. 29 mm cotton in Gujarat was priced at Rs 35,800-36,200 per candy, while Sankar-6 variety was quoted at Rs 37,000-37,500 per candy on Saturday. 28.5+ mm was quoted at Rs 35,000-300, while 28 mm was priced at Rs 33,000-33,500 per candy. V-797 was priced flat at Rs 22,400-23,200 per candy.

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