Cotton traded unchanged as export demand was weak and limited buying of mills.
On the other hand, arrivals from the other States declined in Gujarat.
Gujarat Sankar-6 cotton traded at Rs 33,800-34,000 for a candy of 356 kg.
Kapas traded at Rs 820-854 for 20 kg.
About 45,000 bales cotton arrived in Gujarat and 1.85 lakh bales arrived in India.
Cotton prices were marginally up in North India on good demand ahead of the USDA report.
New cotton ready delivery quoted at Rs 3,660-3,740 a quintal in Punjab, Rs 3,630-3,645 in Haryana and Rs 3,630-3,640 in Rajasthan.
Fresh export inquiries reported from China at 85 cents for a lb and Bangladesh at 87-88 cents/ lb.
Traders said cotton prices are likely to be firm up on fears of lower output and strong export demand of yarn.
A Rajkot-based cotton broker said that decline in arrivals mainly from Maharashtra may help the cotton price to go up.
Currently, mills demand is limited and export buying is also slow so that prices remain steady.
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.