On the other hand, arrivals from small centres in Gujarat dropped as most of the people are in festival mood. A Rajkot-based cotton broker said: “Mills and exporters are buying cotton as per their requirement. Price may remain stable for few days but after Diwali festival, we are expecting good demand.”
According to traders, markets will close for five days next week for Diwali. The sentiment was positive due to good demand and likelihood of tight supply in the near term.
Mills and exporters bought 13,000 bales from Gujarat, while a leading exporter sold around 6,000 bales to local mills at Rs 34,100 for March delivery. Gujarat Sankar-6 traded at Rs 33,500-33,700 for a candy of 356 kg; V 797 at Rs 28,800-29,000 a candy. Kapas was quoted Rs 5 higher to Rs 850-860 for a maund of 20 kg and for Kadi delivery.