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Karnataka Cotton Prices Unchanged for Second Consecutive Session

18 Jan 2021 4:28 pm
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Mumbai (Commodities Control) - Karnataka cotton prices were steady on Monday amid restricted demand from yarn millers and stockists for the second straight session in a row, while daily arrivals rose. It is to be noted that domestic futures prices have eased today, while spot markets have witnessed steady trade amid limited buying from stockists.

Meanwhile, ICE Mar cotton contract gained 93 points for the week ending Jan 15, as the Mar – May spread weakened to 92, still short of full carry. It is worth noting that the Mar contract managed to breach the 82 cents level on the week.

During the last week, ICE cotton’s move higher was largely based on a large cut in the USDA’s official domestic production and carryout projections, strong US weekly export data, strength in corn and soybeans. Strengthening US currency, however, capped.

Daily cotton arrivals on Monday were registered at 9,000 bales vs 7,000 bales in the last session.

Karnataka Quotes (Per Quintal)

Kapas - Rs 5,200-6,200

Cottonseed - Rs 2,300-2,500

Mandi-wise Cotton Quotes (Per Candy)

29-29.5 mm - Rs 43,400 -44,000

30/31mm - Rs. 44,500-45,100

DCH 32 BLS 33/34mm- Rs 62,500-66,000

(Commodities Control Bureau)

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