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Cotton prices stay steady in north India

8 Aug 2022 1:43 pm
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Mumbai, Aug 8 (Commoditiescontrol) - Cotton prices stayed steady in the markets of North India on Monday while futures were a tad up at MCX tracking positive cues from the international market.




At Multi Commodity Commodity Exchange, cotton for delivery in Aug was at Rs 47370 per bale of 170 kg each, up Rs 60 from the last session. Current month cotton seed contract was Rs 30 higher at rs 7224 per quintal.



Arrivals stayed steady while. Weather condition was quite favourable for trade in the major cotton growing belts of north India today.
According to traders, the ginners are not interested to liquidate their stocks as they expect more upsides taking firm cues from the global market.
In the northern Indian states of Punjab and Haryana, cotton sowing in the current kharif season has come down to 2.48 and 6.50 lakh hectares, respectively, as against 2.54 and 6.88 lakh hectares, respectively, in these states till this time last year.



According to the India Meteorological Department (IMD), in the current monsoon season from June 1 to August 7, where Haryana has received 21% above normal rains Punjab has received 9 % above normal rains.

The daily arrival of cotton in the mandis of the states of North India stood unchanged at 100 bales. Cotton is arriving only in Haryana in the north India market.

The prices of cotton were quoted at Rs 8,000 to Rs 9,200 per quintal in the mandis of Punjab and Haryana line, while offered at Rs 8,000 to Rs 9,300 per quintal in Upper Rajasthan line. Cottonseed price was quoted at Rs 3,450 to 3,800 in Punjab and Haryana line and Rs 3,550 to Rs 3,850 per quintal in Upper Rajasthan line.



In Punjab, cotton spot delivery rates were quoted from Rs 9,400 to Rs 9,700 per maund, i.e. Rs 90,000 to Rs 92,000 in candy.

In Haryana, cotton prices were quoted at Rs 8,700 to Rs 9,200 per maund for spot delivery, i.e. Rs 84,000 to Rs 88,000 in candy.

In Upper Rajasthan, cotton prices were quoted at Rs 9,600 to Rs 9,800 per maund for spot delivery, i.e. Rs 91,000 to Rs 93,000 in candy.

In Rajasthan's Pilani, the price of cotton was quoted at Rs 8,700 to Rs 9,000 per maund for spot delivery.

In Lower Rajasthan, cotton traded at Rs 87,000 to Rs 89,000 per candy for spot delivery.

SPOT COTTON COMPLEX PRICES IN MAJOR NORTH INDIAN MARKETS

COTLOOK A INDEX

112.85

ICE COTTON DEC22

96.9

MARKET/VARIETY

UNIT

8-Aug-2022

6-Aug-2022

AVERAGE

%Change

US cent/lb

08-Aug

06-Aug

ABS CHANGE*

Punjab J-34 (RG) 27-28.5MM

Rs/Candy

89620-92480

89620-92480

91050

91050

0

0.00

143.67-148.26

Haryana J-34 (RG) 27-28 MM

Rs/Candy

82946-87713

82946-87713

85330

85330

0

0.00

132.97-140.62

Rajasthan J-34 (RG) 26.5-28 MM

Rs/Candy

91527-93434

91527-93434

92481

92481

0

0.00

146.73-149.79

Pilani, Surajgrah Line

Rs/Candy

82946-85806

82946-85806

84376

84376

0

0.00

132.97-137.56

USD / MT

PJB/HR line kapas

Rs/100Kg

8000-9200

8000-9200

8600

8600

0

0.00

1005.49-1156.32

UPPER/RAJ KAPAS

Rs/100Kg

8000-9300

8000-9300

8650

8650

0

0.00

1005.49-1168.89

PJB/HR line Seed

Rs/100Kg

3450-3800

3450-3800

3625

3625

0

0.00

433.62-477.61

Note : USD / INR

79.563

Note: 1 candy = 355.62 kg | 1 maund = 37.3kg

*Average Change is the difference between average price of current date vs previous date


       
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