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Cotton price moving up over lower arrival

YarnsandFibers News Bureau 2014-07-09 15:30:00 – India

Cotton prices ruled strong over lower arrival due the weak monsoon in Gujarat cotton market. According to traders, demand from domestic mills and slow arrivals in Gujarat resulted in the natural fibre prices to move up. A similar trend was seen in kapas or raw cotton.

 

Gujarat Sankar-6 cotton was traded higher by Rs100-200 at Rs42,000-43,500 for a candy of 356 kg for best quality. Average grade cotton stood at Rs40,000-41,000 and lower quality cotton was Rs34,000-36,000.

 

About 10,000-12,000 bales (of 170 kg each) of cotton arrived in Gujarat and 32,000-35,000 bales arrived in India. Kapas gained Rs10-15 to Rs925-1,100 for a maund of 20 kg in Saurashtra. Gin delivery kapas was Rs1,050-75. Cotton seed was traded at Rs420-450.

 

While, in Maharashtra's Jamner(Neri) mandi the arrival of Cotton is 0.2 tonnes of Other variety whose maximum price is Rs. 3750 per quintal , minimum price is Rs. 3700 per quintal and modal price is Rs. 3725 per quintal.

 

Delay in onset of monsoon and its slow progress have led to late sowing of cotton, but the sowing window is available till early August and its coverage is expected to improve with further progress of monsoon, the government told the Lok Sabha today.

 

Agriculture Minister Radha Mohan Singh said that the government has taken several measures to address "any situation" arising due to deficiency in rainfall.

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