Login ID:
Partner Login
Contact Us : 7066511911

Cotton falls for 2nd straight day in North India as buying from mills remains subdued

28 May 2022 12:54 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI, May 28 (Commoditiescontrol) - Cotton prices quoted lower in the mandis of north India for the second consecutive day on Saturday amid weak demand from spinning mills, while daily arrivals were reported lower.

Globally, ICE Cotton futures traded down for the second straight day on Friday, with July contract dropped by 119 points to close at 139.42 cents/pound, while December contract edged lower by 138 points to 122.95 cents/pound.

The weather has cleared up in most areas of North India. Cotton prices fell today in the mandis of these states today amid weak buying from mills as the commodity continued to rule weak in the global market on Friday. The spinning mills of North Indian states are currently procuring cotton only as per requirement as they are not getting parity due to weak local and export demand in yarn. Therefore, further softening in cotton prices is expected. Although the balance stock of cotton with the mills of these states is less, and the arrival of the new crop will start only in September-October, so there is no possibility of a big decline right now.

The daily arrival of cotton in the mandis of the states of North India stood at 500 bales, down from 600 bales a day before. Out of the total arrivals, Punjab received 0 bales, Haryana 300 bales and Upper Rajasthan 200 bales.

The prices of cotton were quoted at Rs 11,000 to Rs 12,000 per quintal in the mandis of Punjab and Haryana line, while offered at Rs 11,000 to Rs 12,000 per quintal in Upper Rajasthan line. Cottonseed price was quoted at Rs 3,750 to 4,150 in Punjab and Haryana line and Rs 3,850 to Rs 4,200 per quintal in Upper Rajasthan line.

In Punjab, cotton spot delivery rates were quoted from Rs 10,000 to Rs 10,200 per maund, i.e. Rs 98,000 to Rs 98,200 in candy.

In Haryana, cotton prices were quoted at Rs 9,700 to Rs 10,000 per maund for spot delivery, i.e. Rs 96,000 to Rs 98,800 in candy.

In Upper Rajasthan, cotton prices were quoted at Rs 10,100 to Rs 10,200 per maund for spot delivery, i.e. Rs 98,100 to Rs 98,200 in candy.

In Rajasthan's Pilani, the price of cotton was quoted at Rs 9,500 to Rs 9,800 per maund for spot delivery.

In Lower Rajasthan, cotton traded at Rs 97,000 to Rs 99,000 per candy for spot delivery.

(By Commoditiescontrol Bureau: +91-22-40015505)

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
U.S. Cotton Export Sales
30 June 2022 20:30 ICE/ZCE Daily Rates Update
Cotton rises in AP & Telangana on higher buying
Cotton holds steady for 4th straight day in Karnataka a...
Top 5 News
Veg Oil Duty Calculation - 30 June 2022
Local, Tanzania Chana prices gain in domestic markets a...
U.S. Cotton Export Sales
Top 5 Special Reports
US 2022 cotton plated area estimated higher by 11% y/y ...
US soybean stocks as of June 1 up 26% y/y at 971 millio...
US Cotton Net Export Sales for June 17-23 up 197% W/W a...
US soybean net sales reductions for June 17-23 at 120,2...
Desi Moong (Jaipur) Negative Short-term Trend / Next ...
Copyright © CC Commodity Info Services LLP. All rights reserved.