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Cotton Gains Further In North India

9 Dec 2019 12:54 pm
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MUMBAI (Commoditiescontrol) - Cotton prices gained further by Rs 23-30 per maund at major markets in North India on Monday amid positive global cues and consistent demand from mills.

A total of 48,000 bales of cotton today arrived in North India than 36,000 bales on Saturday.

The price of 28+MM cotton in Punjab and 28MM cotton in Haryana quoted at Rs 3,990-4,020/maund and Rs 3,980-4,000 per maund, respectively. While in upper Rajasthan 28MM cotton prices were at Rs 3,990 per maund.

Average price of kapas in North India also increased by Rs 50-100 to Rs 5,100-5,200/quintal. While cotton seed quoted up Rs 75 at Rs 2,575-2,600/quintal.

According to traders, prices of cotton in the domestic spot market are strong due to the rise in global market. However, the demand from mills has come down slightly at higher prices. But the purchases from Cotton Corporation of India continued to remain firm.

On Friday, US cotton futures have gone up to 66 cents per pound on hopes of a trade agreement between the US and China. Meanwhile, December futures of cotton on MCX were trading up by 0.6 percent at Rs 19,250/bale.


SPOT COTTON PRICES IN MAJOR NORTH INDIAN MARKETS
MARKET/VARIETY UNIT 9-Dec 7-Dec AVERAGE % Change US cent/lb
9-Dec 7-Dec ABS CHANGE*
Punjab J-34 (RG) 27-28.5MM (MIC 4.00-4.7) Rs/maund 3990-4020 3960-4000 4,005 3,980 25 0.6 68.18-68.7
Haryana J-34 (RG) 27-28 (MIC 4+) Rs/maund 3980-4000 3955-3980 3,990 3,968 23 0.6 68.01-68.36
Rajasthan J-34 (RG) 26.5-28mm (MIC 4.00-4.5) Rs/maund 3990-3990 3960-3960 3,990 3,960 30 0.8 68.18-68.18
Note: USD/INR= Rs 71.12
Note: 1 maund = 37.3kg |*Average Change is the difference between average price of current date vs previous date

SPOT COTTON PRICE IN LOWER RAJASTHAN
MARKET/VARIETY UNIT 9-Dec 7-Dec AVERAGE %Change US cent/lb
9-Dec 7-Dec ABS CHANGE*
Lower Rajasthan-Marwad Line 28-29.5 mm (MIC 3.8-4.00) Rs/Candy 37200-38900 37100-38800 38050 37950 100 0.3 66.73-69.77
Lower Rajasthan-Mewad Line 27-28mm (MIC 3.00-3.8) Rs/Candy 37200-38900 37100-38800 38050 37950 100 0.3 66.73-69.77
Lower Rajasthan-Khairthal Line 29-29.5 mm (MIC 3.8- 4.2) Rs/Candy 38200-38900 38100-38800 38550 38450 100 0.3 68.53-69.77
Note: USD/INR= Rs 71.12
Note: 1 candy = 356kg | 1 maund = 37.3kg | 1 Bales= 170 kg
*Average Change is the difference between average price of current date vs previous date

       
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