Ahmedabad, March 12 (CommoditiesControl): Cotton prices in Gujarat experienced a notable upswing today, witnessing an improvement of Rs 200-300 per candy, each candy weighing 356 kg, in response to continued purchases from spinning mills. The market reported increased prices, particularly in trading hubs like Manavadar, Rajkot, Gondal, and Jasdan, where good quality cotton was traded at Rs 62,300 per candy.
Traders attribute today's price surge to the active buying from spinning mills. The Indian cotton market remains closely tied to global trends, and the ongoing demand from spinning mills reflects the impact of international trends on local prices. Additionally, the arrival of Kapas is on a decreasing trend, with a decline noted in the prices of low-quality Kapas. The market is witnessing a significant flow of raw Kapas directly to ginning mills, alongside a substantial amount of old Kapas.
Weather conditions in the state have been clear, contributing to the smooth functioning of cotton-related trading activities. In today's market, the price of 29mm cotton in Gujarat ranged between Rs 61,500-62,000 per candy, while the price of 28.5 mm was in the range of Rs 60,500-60,700 per candy. V 797 was traded at Rs 42,500-43,000 per candy. The average price of Kapas stood between Rs 1,400-1,620 per 20 kg. Today, the state witnessed the arrival of 24,000 cotton bales, each weighing 170 kg.
According to the Cotton Association of India, the nationwide cotton arrivals have reached 222.82 lakh bales, with Gujarat contributing 59.93 lakh bales to this total.
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(By CommoditiesControl Bureau; +91-9820130172)
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