Ahmedabad, March 22 (CommoditiesControl): The cotton market in Gujarat witnessed a subdued atmosphere today as prices softened by Rs 100 per candy, primarily due to decreased purchasing from spinning mills. Kapas prices, however, remained stable amidst this scenario. Traders anticipate trading activity in Kapas until tomorrow, after which markets are expected to observe a one-week holiday due to the end of March. Market trends are now depends on the arrival of Kapas and the sale of cotton in April.
In the state, the price of 29mm cotton was recorded at Rs 60,500-61,000 per candy, each weighing 356 kg, while the price of 28.5mm cotton ranged from Rs 60,000-60,300 per candy. Additionally, the prices of V 797 cotton were observed at Rs 40,200-40,500 per candy. The average price of Kapas stood at Rs 1,400-1,590 per maund, each maund weighing 20 kg. Today, around 22,000-23,000 bales, each weighing 170 kg, of cotton arrived in the state.
US cotton futures demonstrated stability on Thursday, supported by positive export sales data from the US Department of Agriculture (USDA). May cotton futures closed 0.03 points higher at 92.26 cents.
According to data from the Cotton Association of India, a total of 242.93 lakh bales have arrived in the country so far, with 65.35 lakh bales arriving in Gujarat alone.
.jpeg)
(CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
