Cotton trades flat on weak demand


Cotton price traded unchanged on limited demand from mills. However, short supply kept the price steady at the previous level.Trader said that, because of the weak arrival of the commodity price was remained steady at the higher level. But at the current price demand was declined from domestic mills. According to market sources, cotton prices may not decline as pipeline is dry due to weak production last year. Gujarat Sankar-6 cotton traded flat on ₹44,500-45,000 per candy of 356 kg. About 2,000 bales arrived in Gujarat and 5,000 bales arrived in India. Kapas or raw cotton traded unchanged on normal demand from ginners. Kapas quoted ₹1,200-1,250 per 20 kg and gin delivery kapas was stood at ₹1,250-1,275 per 20 kg.According to traders about 8-10 lakh bales of unsold cotton stock available in Gujarat.Our Correspondent