India: Cotton wilts on poor demand

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Cotton prices were down on the back of poor demand from domestic mills.

Gujarat Sankar-6 best quality cotton was traded down by ₹200-300 to ₹38,000-39,500 a candy of 356 kg. Average grade cotton stood at ₹35,000-38,000 and lower cotton ₹32,000-35,000. About 4,000 bales (of 170 kg each) arrived in Gujarat and 12,000-14,000 bales arrived in India.

There was no export demand and few domestic buyers were present. Price may decline further this week. Kapas was traded weak by ₹10-12 to ₹900-1,020 for a maund of 20 kg in the Saurashtra region. Gin delivery kapas stood at ₹1,005-15. Cotton seed decreased by ₹5 to ₹415-445.

– The Hindu

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