NEW DELHI, May 28 (Commoditiescontrol) - Cotton prices stayed unchanged in the mandis of Gujarat on Saturday due to limited buying from mills, while daily arrivals remained steady.
Meanwhile, the weather is clear in the cotton producing areas of the state. According to traders, the spinning mills of the state are currently procuring cotton only according to the need, as they are not getting parity due to the slow rise in the price of yarn. Although the ginning mills of the state are not selling the bales by reducing the price, while the balance stock of cotton with the mills is only for the average month's consumption due to the fall in the production estimate of cotton in the current season. The arrival of the new cotton crop in the state's mandis will start after four to five months, so there will be a slowdown in the prices of cotton in the future, but there is no possibility of a big fall now.
Today the daily arrival of cotton in the producer mandis of the state stood at 5,000 bales, unchanged from a day before.
Cottonseed prices ranged from Rs 600 to Rs 800, while kapas at Rs 1,800 to Rs 2,600 per 20 kg in the state's mandis.
The price of A grade cotton was at Rs 98,000 to 99,000 per candy, B grade cotton at Rs 97,000 to 98,000 and average grade cotton at Rs 96,000 to 97,000 per candy in the state's mandis.
The mills of South India purchased cotton at Rs 1,00,000 to Rs 1,03,000 per candy and godown stock cotton at Rs 1,00,000 to 1,05,000 per candy.
The price of new cotton of V797 variety was quoted at Rs 60,000 to Rs 66,000 per candy, while the price of cottonseed of V797 variety was Rs 4,750 to Rs 4,950.
(By Commoditiescontrol Bureau: +91-22-40015505)
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