Export, yarn demand may lift cotton next week

Our Correspondent Updated - December 21, 2012 at 08:37 PM.

BL22_COMM2_COTTON

Cotton moved up marginally on low arrivals and a slight increase in demand. New export demand may push up the fibre next week, sources said.

Traders said rising yarn demand may also lead to increase in prices.

The Sankar-6 variety increased by Rs 100 to Rs 34,000-34,100 for a candy of 356 kg.

Kapas or raw cotton was up Rs 10 at Rs 810-890 for a
maund of 20 kg.

While 33,000-35,000 bales of 170 kg each arrived in Gujarat, and 1.5 lakh bales arrived in the rest of the country.

From Maharashtra, 16,000-17,000 bales arrived in Gujarat and quoted at Rs 850-885 a maund .

The fibre was flat in North India, where 35,000 bales arrived, on normal demand.

New cotton for ready delivery quoted at Rs 3,540-3,570 a quintal in Punjab, at Rs 3,460-3,475 in Haryana and at Rs 3,450-3,460 in Rajasthan.

low arrivals

Arrival has dropped by almost 40 per cent year-on-year, said a Rajkot-based broker.

Farmers are holding on to their produce, hoping for a higher price.

Published on December 21, 2012 15:07