Cotton commodity demand from mills and exporters was limited amid higher arrivals. Trade sources expect prices to decline after Diwali. Because of late sowing new arrivals have been delayed by a month this year, said a Rajkot-based broker.Gujarat Ginners Association has predicted 140 lakh bales production in Gujarat, against 110 lakh bales last year.
Cotton will trade between Rs 37,000 and Rs 40,000 a candy until arrivals of quality crop begin after Diwali, when mills in the South and exporters will increase buying, traders and brokers said.
A-grade Sankar-6 variety sold at Rs 39,000-39,500 a candy of 356 kg while medium grade was at Rs 34,000-36,000 a candy. Raw cotton or kapas quoted at Rs 925-955 for a maund of 20 kg. While 13,000-14,000 bales of 170 kg each, including 4,000 bales of new cotton, arrived in Gujarat 40,000-42,000 bales arrived in the rest of the country.
In Maharashtra, about 4,000 bales arrived and traded at Rs 37,000-39,000 a candy. Kapas from Maharashtra traded at Rs 900-910 a bale in Gujarat. New kapas sold at Rs 900-940 for a maund in Gujarat.
Cotton will trade between Rs 37,000 and Rs 40,000 a candy until arrivals of quality crop begin after Diwali, when mills in the South and exporters will increase buying, traders and brokers said.
A-grade Sankar-6 variety sold at Rs 39,000-39,500 a candy of 356 kg while medium grade was at Rs 34,000-36,000 a candy. Raw cotton or kapas quoted at Rs 925-955 for a maund of 20 kg. While 13,000-14,000 bales of 170 kg each, including 4,000 bales of new cotton, arrived in Gujarat 40,000-42,000 bales arrived in the rest of the country.
In Maharashtra, about 4,000 bales arrived and traded at Rs 37,000-39,000 a candy. Kapas from Maharashtra traded at Rs 900-910 a bale in Gujarat. New kapas sold at Rs 900-940 for a maund in Gujarat.
