Cotton remained unchanged despite gradual rise in export demand amid limited arrivals on Friday. Exporters are waiting for prices to fall and for new quality arrivals, said a Rajkot-based broker.

Best-quality Sankar-6 variety sold at Rs 40,000 a candy of 356 kg, while medium and lower grades sold at Rs 34,000-38,500 a candy. The Kalyan variety fetched Rs 24,000-27,000 a candy.

New kapas quoted at Rs 925-955 for a maund of 20 kg and old kapas at Rs 960-970.

While 20,000 bales of 170 kg each arrived in Gujarat, 50,000-55,000 bales arrived in rest of the country. Arrivals had increased to a lakh bales around this time last year. Brokers said they would increase after Diwali.

The All-Gujarat Cotton Ginners Association has estimated about 120 lakh bales of production in Gujarat in 2011-12. According to the association, production is expected to increase by 10-12 lakh bales year-on-year and rise to about 360 lakh bales for the country against about 325 lakh bales last year.

Related Topics