Mumbai – Cotton offered higher by Rs 200-300 per candy in West India on better demand from South and North Indian mills.
Delay in arrival of rains in key producing regions forcing domestic mills to scale up procurement.
Exporters were out of the market. Some exporters selling their stocks in Gujarat and North India due to lack of fresh orders and appreciation in rupee.
Gujarat, new A grade S-6 cotton traded at Rs 34,200- 34,800 per candy and B grade cotton at Rs 33,700-34,000 per candy. Prices of New V 797 offered at Rs 28,000-28,300 a candy.
In Maharashtra A grade cotton low micronaire quoted at Rs 33,500-34,000 per candy and A grade high micronaire cotton 29+ MM quoted at 34,200-34,700 per candy.
In Madhya Pradesh, A grade cotton low micronaire quoted at Rs 33,500-34,000 per candy and A grade high micronaire cotton 29+ MM quoted at 34,200-34,700 per candy.
Source: http://www.moneycontrol.com/commodity/comm_news.php?autono=179798&type=MKT
