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Cotton price at Indian market remained unmoved

YarnsandFibers News Bureau 2014-02-03 23:00:00 – Rajkot

Cotton price remained unmoved as a result of normal export and domestic demand. Kapas or raw cotton also traded flat. About 60,000-62,000 bales of cotton arrived in Gujarat and 2 lakh bales arrived across the country.

Gujarat Sankar-6 cotton was quoted at Rs.46,600-46,700 for a candy of 356 kg. Kapas was traded at Rs.1,050-1,085 for a maund of 20 kg and gin delivery kapas stood on Rs.1,085-1,100 a maund in Rajkot.

On the National Commodity and Derivatives Exchange, kapas April contract increased by Rs.4 to Rs.980.50 a maund, with an open interest of 18,037 lots.

As per Rajkot-based cotton broker, buyers were buying hand-to-mouth which kept the demand normal, though there was some export inquiries. Demand is likely to move up in the coming days.

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