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Gujarat Cotton Prices Rise Rs 100 amid Improved Mill Buying, Unchanged Arrivals

29 Sep 2020 2:33 pm
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Mumbai (commodities control) - Prices of cotton rose Rs 100 per Candy amid improved demand from yarn mills in Gujarat.

Lower cotton acreage and anticipation of weaker output continues to support cotton prices in Gujarat. However traders see new cotton arrivals rising next month onwards. 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. State registered arrivals of 5,000 bales on Tuesday similar as 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 36,100-36,300 per candy on Tuesday.28.5+ mm was quoted at Rs 35,100-400, while 28 mm was priced at Rs 33,100-33,600 per candy. V-797 was priced flat at Rs 22,400-23,200 per candy. International cotton futures trades weak by 1% at 65.07 cents per lb for December contract. MCX cotton drags lower tracking global cues to be quoted at Rs 18,090, down 0.39% at 2.27 pm on Tuesday.

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