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Cotton Prices Decline in Gujarat Amid Spinning Mills' Limited Buying

4 Oct 2024 1:06 pm
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Ahmedabad, October 4 (Commodities Control): The cotton market in Gujarat continues to experience a downward trend, with prices softening by Rs 50 to Rs 100 per 20 kg today. The reduced purchases from spinning mills are contributing to this decline, as demand remains sluggish.

Many ginning mills have resumed operations following the Navratri festival, and the arrival of new Kapas is steadily increasing. Today, over 80,000 maunds of new Kapas arrived in the Saurashtra region, signaling a shift toward drier Kapas. Should the arrivals continue to rise, there could be increased pressure on cotton prices in the coming days.

In terms of arrivals, traders reported that 5,700 maunds of Kapas came into the market in Morbi, while Rajkot received 14,000 maunds, Amreli 9,000 maunds, Botad 25,000 maunds, and Halvad around 17,000 maunds.

Current market prices for cotton in Gujarat are as follows:
- 29 mm Cotton: Rs 57,500 to Rs 58,000 per candy, with each candy weighing 356 kg.
- 28.5 mm Cotton: Rs 56,800 to Rs 57,300 per candy
- V 797 Cotton: Rs 41,000 to Rs 41,500 per candy

Additionally, the average price of Kapas in the state stands at Rs 1,400 to Rs 1,680 per maund, each maund weighing 20 kg. Total cotton arrivals in Gujarat reported at around 5,000 bales, with each bale equivalent to 170 kg.



(By CommoditiesControl Bureau; +91-9820130172)


       
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