Cotton blooms on short supply


Cotton prices moved up on the back of short supply and good demand from domestic mills. Export demand also supported the gain. Kapas or raw cotton traded higher on ginning demand. Gujarat Sankar-6 cotton was up ₹200 to ₹34,000-200 per candy of 356 kg. About 40,000 bales of 170 kg arrived in Gujarat and 1.50 lakh bales arrived in India. According to industry sources, cotton price may continue to gain during this week. Kapas was traded up by ₹5-7 to ₹950-975 per 20 kg and gin delivery kapas was quoted at ₹980-1,000. Cottonseed was flat at ₹480-500.