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Cotton Prices Firm In North India On Increased Demand

8 Nov 2019 2:02 pm
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MUMBAI (Commoditiescontrol) - Cotton prices moved higher by Rs 15-23 per maund at major markets in North India on Friday amid procurement by the CCI and demand from mills as well.

According to traders, the procurment from Cotton Corporation of India is also gaining momentum in Haryana. At the same time, most farmers in Punjab are interested in selling their produce to CCI. Farmers are currently getting less than the support price in the mandis. Furthermore, the demand of mills also remains strong.

A total of 24,000 bales of cotton today arrived in North India, including 3,000 bales in Punjab and 12,000 bales in Haryana and 9,000 bales in upper Rajasthan. Arrivals were at 29,000 bales on Thursday.

The price of 28+MM cotton in Punjab and 28MM cotton in Haryana quoted at Rs 3,855-3,890/maund and Rs 3,860-3,880 per maund, respectively. While in upper Rajasthan 28MM cotton prices were at Rs 3,900 per maund.

Average price of kapas in North India was at Rs 5,150-5,200/quintal. While cotton seed quoted at Rs 3,070-3,100/quintal.

MARKET/VARIETY UNIT 8-Nov 7-Nov AVERAGE % Change US cent/lb
8-Nov 7-Nov ABS CHANGE*
Punjab J-34 (RG) 27-28.5MM (MIC 4.00-4.7) Rs/maund 3855-3890 3840-3860 3,873 3,850 23 0.6 65.76-66.35
Haryana J-34 (RG) 27-28 (MIC 4+) Rs/maund 3860-3880 3840-3860 3,870 3,850 20 0.5 65.84-66.18
Rajasthan J-34 (RG) 26.5-28mm (MIC 4.00-4.5) Rs/maund 3900-3900 3885-3885 3,900 3,885 15 0.4 66.53-66.53
Note: USD/INR= Rs 71.25
Note: 1 maund = 37.3kg |*Average Change is the difference between average price of current date vs previous date

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