Login ID:
Partner Login
Contact Us : 7066511911

Cotton Prices Surge in Gujarat Following Global Market Rebound

9 May 2024 2:46 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Ahmedabad, May 9 (CommoditiesControl): The Indian cotton market, particularly in Gujarat, witnessed a notable rise as the global cotton market displayed signs of improvement. Today, cotton prices in Gujarat saw an uptick of Rs 200-300 per candy. Traders attribute this surge to the 3% increase in ICE cotton futures observed yesterday.

The uptick in Kapas prices in the global market is reportedly influenced by several factors, including heavy floods in Brazil and allegations regarding the quality of Kapas, which have tarnished its reputation. Consequently, buyers may redirect their focus towards American Kapas. Moreover, weather uncertainties in various regions contribute to market volatility.

Conversely, ICE cotton futures recorded a more than 3% increase on Wednesday, buoyed by expectations of reduced acreage, while fresh demand further supported cotton futures following multi-month lows in previous sessions.

In Gujarat today, the price of 29mm cotton ranged from Rs 57500-57800 per candy, each weighing 356 kg, while 28.5 mm cotton was priced at Rs 56600-57000 per candy. Additionally, the price of V 797 stood at Rs 37000-37300 per candy. The average price of Kapas hovered around Rs 1300-1520 per maund (maund=20 kg). Approximately 8000 bales, each weighing 170 kg, of cotton arrived in the state today.

According to CAI, the country has witnessed the arrival of 280.60 lakh bales so far, with Gujarat alone receiving 74.43 lakh bales.

(By CommoditiesControl Bureau: +91-9820130172)...

  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 :  

Post Comment  

Latest Market Commentary
ZCE Cotton And Yarn Evening Closing - 24 JUNE 2024
ICE/ZCE Daily Rates Update ( Time: 20:25 ) - 24 JUNE 20...
India's Cotton Yarn Exports Decline in May 2024
Cotton Prices Stable in Andhra & Telangana Amid Limited...
Cotton Prices Surge in Maharashtra Amid Rise in Demand,...
Top 5 News
ZCE Cotton And Yarn Evening Closing - 24 JUNE 2024
DCE Oil Complex Evening Closing - 24 JUNE 2024
Small Cardamom Prices Continue Upward Trend Amid Reduce...
Clove Prices Remain Stable Across Markets
Pepper Prices Decline in Domestic and Vietnam Markets
Top 5 Special Reports
Weekly: ICE Sugar Return To Losses on Robust Brazilian ...
Weekly: Cotton Extends Week of Losses as Strength of Do...
US soybean net sales for June 7-13 at 556,500 MT, up 48...
US cotton net export sales for June 7-13 at 189,000 RB,...
Government Raises Kharif Crop MSPs for 2024-25, Enhanci...
Copyright © CC Commodity Info Services LLP. All rights reserved.