Cotton fell Rs 1,000 a candy of 356 kg to touch Rs 30,000-31,000 as demand plunged.
The Sankar -6 variety dropped by Rs 1,000 to Rs 30,000-31,000 a candy in the last few days. Kalyan fetched Rs 17,000-20,000 a candy on Friday. While 1,500-2,000 bales of 170 kg each arrived in Gujarat, 4,000 bales arrived in the rest of the country. Cotton prices have fallen by more than Rs 7,000 a candy till now during July.
Raw cotton has also decreased to Rs 725-840 for a
Current prices are just ‘figurative' and there is no demand for cotton, said a broker here.
Exports
The Union Government is considering allowing additional exports of eight lakh bales. The Government has been slow on exports to control domestic prices. Of the eight lakh bales, three lakh will likely be reserved for the Cotton Corporation of India, while private players will contribute the rest.