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North India : Cotton Price Continues Steady amid Increased Arrivals; Weak Global Cues

29 Sep 2020 1:12 pm
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Mumbai (commodities control) - Cotton prices were reported to be steady today, after rising Rs 10 per maund in the last session in North India. Cotton arrivals have started to rise in Punjab, Haryana and Rajasthan mandis as the weather improves.

Meanwhile demand from cotton yarn mills stays weak. Today, Haryana registered daily arrivals of nearly 4,000 bags vs 2500 bales in the last session, while punjab reported arrivals of 1500 bakes vs 1000 bales and Rajasthan arrivals rose to 500 bales vs 400 bales as compared with last session. Kapas was quoted at Rs 4600-5200, while cottonseed was priced at Rs 2900-2950, down Rs 50. Cottonseed oilcake was quoted at Rs 2250-2450 per quintal. 28+mm in Punjab was quoted at Rs 3860-3890, while in Haryana 28mm was priced at Rs 3840-3860/maund. In Upper Rajasthan, kapas was quoted around Rs 3730- 3870 per Maund. 28 mm in Sangariya-Ravatsar was quoted at Rs 3870 and in Hanumangarh mandi was priced at Rs 3870 too. 28mm in Vijay Nagar was priced at Rs 3820 and in Shri Ganga Nagar the variety traded at Rs 3810 per maund, while 27.5-28 mm in Peelibanga, Suratgarh and Jaitsar was quoted at Rs 3830 and 27.5 mm in Anupgarh, Goluwala and Gharsana was priced at Rs 3810/maund. MCX cotton for October futures traded 0.33% lower at Rs 18,100 tracking weakness on ICE cotton futures, down 0.65% at 65.25 cents per lb.

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