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Karnataka Cotton Prices Edge Up amid Improved Demand from Millers/Stockists; Daily Arrivals are Flat

8 Mar 2021 2:31 pm
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Mumbai (Commodities Control) - Karnataka cotton prices edged higher on Monday due to demand from millers and stockists from lower price levels, while daily arrivals are stagnant in the state mandis. Trade purchases came on the back of rebound in the international cotton futures benchmark on Monday.

NY cotton is trading 0.67% higher at 88.35 cent per lb on Monday pushing MCX cotton futures higher, as the March futures contract is quoted 0.54% stronger at Rs 22,270.

Last Friday, ICE cotton futures edged up buoyed by bets for a reduction in U.S. cotton planting estimates in a federal report due on Tuesday, 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 and July settled at 88.67 cents, up 54 points.

Daily cotton arrivals on Monday were registered at 4,000 bales, unchanged from 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 45,800 -46,800

30/31mm - Rs. 46,800-47,500

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

(By Commoditiescontrol Bureau)

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