Cotton may rise to Rs 42,000/candy

0
74
RAJKOT, SEPT. 9:

Higher export and local demand during the week kept cotton prices high. Traders said cotton may reach Rs 42,000 a candy of 356 kg the next week.

Sankar-6 variety increased by Rs 1,000-1,500 to Rs 39,500-40,000 a candy. Raw cotton or kapas was also up to Rs 725-918 for a maund of 20 kg. While 4,000 bales arrived in Gujarat, 6,000-7,000 bales arrived in the rest of the country.

Increased demand from mills and exporters, tight supplies because of rains and a delay of 10-15 days in the season are supporting cotton prices, said Mr Jatinbhai, a Rajkot-based cotton broker.

Source: http://www.thehindubusinessline.com/markets/commodities/article2439576.ece

LEAVE A REPLY