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Karnataka Cotton Prices Unchanged Due to Lower Level Buying, Increased Arrivals

6 Mar 2021 2:40 pm
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Mumbai (Commodities Control) - Karnataka cotton prices steadied on Saturday due to demand from millers and stockists from lower price levels, while daily arrivals have risen in the state mandis. Trade purchases came on the back of positive closing witnessed in international cotton futures benchmark on Friday.


ICE cotton futures edged up on Friday, buoyed by bets for a reduction in U.S. cotton planting estimates in a federal report due next week, though caution over the report kept prices in a narrow range. Also helping the market end with gains were the strength outside markets of grains and energies. On Friday, May Cotton closed at 87.76 cents, up 62 points, July settled at 88.67 cents, up 54 points and December cotton ended at 84.54 cents, up 54 points. Cotton contracts for May Cotton ended down 107 points for the week and for the month, and up 782 points for the year.


Daily cotton arrivals on Saturday were registered at 4,000 bales vs 3,000 bales in the last session.


Karnataka Quotes (Per Quintal)

Kapas - Rs 5,600-6,600

Cottonseed - Rs 2,600-3,050


Mandi-wise Cotton Quotes (Per Candy)

RD 75 29-29.5 mm - Rs 45,700 -46,500

30/31mm - Rs. 46,500-47,000

DCH 32 BLS 33/34mm- Rs 70,000-73,000





       
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