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Stability in Gujarat Cotton Market; Pressing Up by 14% in April Compared to Last Year

8 May 2024 12:41 pm
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Ahmedabad, May 8 (Commoditiescontrol): The cotton market in Gujarat maintained its stability today, with prices remaining steady amid a lack of purchases from spinning mills. Conversely, the price of Kapas saw an improvement of Rs 10-15 per 20 kg, attributed to demand from ginners.

Data from the Gujkot Trade Association reveals a notable increase in pressing activity, with a total of 74.49 lakh (2.27 lakh Kalyan) bales pressed in April. This marks a significant rise from the 68.02 lakh bales pressed in March and a substantial 14% increase compared to the 64.84 lakh bales pressed in April last year. The Saurashtra Ginners Association reported that 48.92 lakh bales have been pressed in Saurashtra alone.

In today's market, the price of 29mm cotton stood at Rs 57000-57300 per candy, while 28.5 mm cotton was priced at Rs 56300-56600 per candy, and V797 at Rs 36500-36800 per candy. The average price of Kapas ranged between Rs 1300-1520 per maund. Around 10,000 bales of cotton arrived in the state today.

According to the Cotton Association of India, the country has received a total of 280.16 lakh bales so far, with Gujarat alone accounting for 74.28 lakh bales.

(By CommoditiesControl Bureau: +91-9820130172)

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