Cotton unchanged on limited buying by mills

 

On the back of limited demand from millers, cotton prices ruled steady in Gujarat and other regions.

According to brokers, cotton price may drop marginally this week.

Sankar-6 ruled at Rs 37,200-37,500 a candy (of 356 kg) in Gujarat. Prices of New V-797 were at Rs 30,500-31,000. About 5,000-6,000 bales (of 170 kg) arrived in Gujarat and around 10,000-11,000 bales arrived in India. Kapas was traded atRs 970-1,005 for 20 kg.

In Maharashtra, A grade (low micronaire) was at Rs 36,800-37,300 a candy and A grade (high micronaire 29+ MM) was at 37,300-37,800.

A cotton broker said: “At present cotton trade is very limited. South Indian mills are focusing more on imports than domestic supply.” Northern mills are importing from Pakistan.