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Cotton Prices Jump Over Rs 500/Candy In Lower Rajasthan

13 Jan 2020 3:46 pm
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MUMBAI (Commoditiescontrol) - Cotton prices jumped by Rs 400-550 per candy at major markets in lower Rajasthan on Monday due to the lower arrivals, increased demand and tracking gains in other north Indian markets.

Arrivals today stood lower at around 4,000 bales.

The price of 28-29 MM cotton in Marwar and Mewar offered higher by Rs 550 and Rs 500 at Rs 38,800-40,000 and Rs 38,000-39,500/candy, respectively. The price of 29-29.5MM in Alwar also ruled firm by Rs 400 at Rs 39,500-39,700/maund.

Kapas here traded at higher by Rs 200 at Rs 5,000-6,000 per quintal. While cotton seed quoted at Rs 2,600-2,800/quintal. Cotton seed oil cake on the other hand traded at Rs 2,450-2,550 per quintal.

According to traders, there has been a decline in arrivals due to rain in Sriganganagar and Hanumangarh. However, demand from mills as well as exporters remain in the market in anticipation of further price rise and increase in export demad.

Meanwhile, cotton January contract on MCX was trading at Rs 20,150/bale, up by Rs 150, after hitting a high of Rs 20180 in early trade today.

SPOT COTTON PRICE IN LOWER RAJASTHAN
MARKET/VARIETY UNIT 13-Jan 11-Jan AVERAGE %Change US cent/lb
13-Jan 11-Jan ABS CHANGE*
Lower Rajasthan-Marwad Line 28-29 mm (MIC 3.0-3.8) Rs/Candy 38800-40000 38200-39500 39400 38850 550 1.4 69.88-72.02
Lower Rajasthan-Mewad Line 28-29mm (MIC 3.0-3.8) Rs/Candy 38000-39500 37500-39000 38750 38250 500 1.3 68.44-71.12
Lower Rajasthan-Khairthal Line 29-29.5 mm (MIC 3.8- 4.2) Rs/Candy 39500-39700 39200-39200 39600 39200 400 1.0 71.14-71.48
Note: USD/INR= Rs 70.84
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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