India: Cotton blooms on export enquries

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RAJKOT, MARCH 3:  

Cotton prices moved up on the back of fresh export enquiries in the market. Kapas or raw cotton also gained as demand from increased enquiries from the ginning industry in the last few days.

Gujarat Sankar-6 cotton improved by ₹100 to ₹41,700-42,000 for a candy of 356 kg. Kapas traded higher by ₹10 to ₹1,020-60 for a maund of 20 kg in Rajkot. In general, Kapas was traded at ₹900-1,065 in Saurashtra region. Gin delivery kapas was traded at ₹1,050-65.

About 65,000 bales (of 170 kg each) of cotton arrived in Gujarat and 1.90 lakh bales arrived in India.

A broker said that some export demand was seen in the market and demand may increase this week. On the back of fresh export enquiries,cotton prices improved on Monday and may increase further. Moreover, domestic mills demand remained normal which also supported the price.

Source: The Hindu

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