Cotton prices remain steady
Cotton lint prices were steady to firm, with regular buying support from Southern Mills, during the second fortnight of May, according to South India Cotton Association (SICA).
By PTI |
COIMBATORE: Cotton lint prices were steady to firm, with regular buying support from Southern Mills, during the second fortnight of May, according to South India Cotton Association (SICA).
Cotton arrivals were about 12,000 bales a day on all India basis and increased cotton prices motivated planting intention of farmers in different belts, SICA, in its market report during the period, said.
Prices showed an upward trend during the fortnight, as Bengal Deshi variety quoted Rs 2,000 to Rs 2,200 and J-34 Saw ginned Rs 2,230 to Rs 2,550 per maund spot.
Prices were on higher range in Gujarat, where Shankar-6 ruled at Rs 23,000 to Rs 25,000 and V-797 Rs 18,000 to Rs 18,500 per candy spot.
In Madhya Pradesh, MECH 1-H4 quoted Rs 21,900 to Rs 24,000 per candy spot, while price ranged from Rs 21,800 to Rs 24,000 per candy of 28mm to 30mm staple in Maharashtra.
Prices ruled steady to firm in Andhra Pradesh, as MCU 5 quoted Rs 22,000 to Rs 24,000 per candy spot.
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DCH-32 ruled Rs 31,000 to Rs 31,500 per candy spot, indicating a steady to firm trend in Karnataka, while prices retained its steady to higher price levels in Tamil Nadu, SICA said. Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
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