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Gujarat Cotton Prices Steady amid Weak Demand; Arrivals Halt

2 Dec 2020 1:42 pm
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Mumbai (Commodities Control) - Gujarat cotton prices were holding stable for a third consecutive session on Wednesday due to weaker mill buys and poised arrivals. Traders reveal that millers have been making good purchases for over a month and a half, due to which their requirements are minimal now. However, prices are expected to rise taking cues from international cotton which will raise demand for cotton by the private yarn milers.

According to the traders, spot prices have been dull due to weak domestic and international futures. This has lowered the demand from exporters and private yarn millers, as well. Today, market arrivals were reported at 40,000 bales, similar to that in the previous session.

Gujarat Cotton Quotes (Per 20 Kgs)

New Kapas - Rs 950-1,150

Cottonseed - Rs 500-540

Cotton Quotes (Per Candy)

New Cotton 75 RD - Rs.40,900-41,200

74 RD - Rs.40,600-41,800

V-797 ( Tresh 13%) - Rs 26,900 - 27,200

MCX Cotton December futures traded 0.50% lower at Rs 19,960

(Commodities Control Bureau)

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