Cotton increases on short supply


Cotton price moved up on the back of foreign sentiments and short supply in domestic market in Gujarat due to Patidaar agitation. Gujarat Sankar-6 cotton traded up by ₹300 to ₹33,700-34,500 per candy of 355 kg. About 15,000 bales arrived in Gujarat and 55,000 bales arrived in India. Kapas or raw cotton gained by ₹7 to ₹950-980 per 20 kg and gin delivery kapas stood at ₹980-1,20 per 20 kg. Cotton seed increased by ₹5 to ₹540-560 per 20 kg. According to Cotton Association of India the arrivals of cotton during the ongoing 2015-16 season continue to lag behind the last year. The arrivals during 2015-16 season up to the end of March 2016 which are estimated at 280.15 lakh bales are lower by about 12% than 318.45 lakh bales arrived up to the same period last year. This reduction in arrivals during the ongoing cotton season is a clear indication of a lower crop this year.