Lower Rajasthan Cotton Prices Decline Rs 100-150/Candy amid Weak Demand, Lower Arrivals

Mumbai (Commodities Control) - Lower Rajasthan Cotton prices fell Rs 100-150 per Candy on Thursday amid reduced demand from millers and stockists, while daily cotton arrivals dropped.

ICE cotton futures fell more than 2% on Wednesday, tracking weakness in broader financial markets and as analysts said that the U.S. fiber was facing headwinds from cheaper Indian and African exports.Cotton contracts for May 21 closed at 88.45 Cents, down 254 points, July settled at 89.41 cents, down 251 points and Dec 21 Cotton closed at 85.01 cents, down 144 points.The active- contract rallied to over 2-1/2-year highs last week but has slipped as much as 7.5% from that peak.

Market participants look forward to a weekly export sales report from the U.S. Department of Agriculture (USDA) due on Thursday. The market is clearly hoping for those numbers to be friendly. That report will be followed by Friday’s unemployment data from the Labor Department.

Meanwhile daily market arrivals were reported at 1,500 bales vs 2,500 bales in the last session.

Rajasthan Kapas (Per Quintal)

Kapas - Rs 5,800- 6,550

Cottonseed - Rs 3,000 - 3,350

Mandi-Wise Cotton Quotes (Per Candy)

Marwad (28.5/29 mm) - Rs.43,500-44,800

Mewad (28-29mm) - Rs.43,000 - 44,600

Alwar/Khairthal/Bahroud (29mm) - Rs. 44,200 - 44,900

Pilani/SurajGarh 28 mm - Rs 43,300 - 43,600