Cotton price moved up on the back of fresh export and demand from domestic mills. Moreover, slower arrivals also supported the price to go up.
According to Rajkot-based cotton broker, the price of cotton may rise further during this week as quality stock is not available. Gujarat Sankar-6 cotton moved up by ₹500 to ₹43,500-44,000 for a candy of 356 kg. B grade cotton was traded at ₹41,000-42,000 and lower cotton for ₹36,000-38,000.
About 30,000-35,000 bales of cotton arrived in Gujarat and 90,000-100,000 bales arrived across the country.
For the last couple of days, there is good export demand, said traders. Kapas or raw cotton traded higher by ₹10-15 in Saurashtra. At Rajkot, kapas was sold at ₹920-1,105 for a maund of 20 kg. Gin delivery kapas was traded at ₹1,100-1,130 .
Cottonseed was quoted at ₹400-414 a maund in Saurashtra.
– The Hindu