Comments
Cotton ruled stable in Gujarat on normal demand. Buyers are waiting for the Union Government's decision on export.
The Sankar-6 variety was traded at Rs 34,700-35,000 a candy of 356 kg, while the Kalyan variety ruled at Rs 25,000-26,000. Kapas or raw cotton was at Rs 780-877 a maund of 20 kg here and at Rs 775-790 for delivery at Kadi. its April contract on the National Commodity and Derivatives Exchange declined by Rs 9.50 to Rs 834 a maund with an open interest of 6,459 lots. About 25,000 bales of 170 kg each arrived in the State, while 1.1 lakh bales arrived in the rest of the country.
The fibre crop was steady in north India, too, where 31,000 bales arrived. J-34 RG quoted at Rs 3,660-3,720 a quintal in Punjab, at Rs 3,600-3,620 in Haryana and at Rs 3,590-3,600 in Rajasthan. Traders said that mills are buying in limited quantity as they are sure of regular supplies.
A Rajkot-based cotton broker said, “Exporters are waiting for the Government decision on cotton export while mills' buying is limited. Prices will remain between Rs 34,000 and Rs 35000.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.