Cotton gains Rs 50-75 in north India, buying dull
After gaining Rs 50-75 a maund in the morning, cotton is witnessing dull demand and an increase in selling in major north India markets Friday. Total arrival in the country was 3,000 bales.
Traders apprised that a major mill sold around 200 bales of cotton at Rs 3,750 a maund but the millers who were buying from the last few days are not taking interest in dealing at current hiked prices. This is why market sentiment is dull.
Millers have increased yarn prices tracking a hike in cotton prices in the last few days. Though, there has not been any deal but it is expected further. Millers increased the price of 30 count combed yarn by Rs 5 a kg and are quoting it at Rs 160 a kg.
The crop condition in north India is reported to be good. A decent downpour recently was favourable for the standing crop. Balls have started to emerge and Cultivation may get start by August end.
In Punjab, ready delivery S-G cotton traded at Rs 3,725- 3,750 a maund. In Haryana, it offered at Rs 3,600- 3,625 while in Rajasthan, ready delivery cotton quoted at Rs 3,550- 3,650 a maund.
Cotton traded steady to strong in major west India markets Friday. Prices of good quality cooton are ruling higher while inferior is being quoted stable. Total arrival in the country was 3,000 bales.
Traders apprised that buying has become dull after an incessant roll up in prices in the past few days. Though exporters are enquiring, but sellers are not ready to sell at the prices being quoted by the former. A south-Indian miller bought 3,000 bales of cotton at Rs 35,000- 35,500 per candy.
In Gujarat, S-6 grade A cotton traded at Rs 35,000- 36,000 per candy, grade B at Rs 32,000- 33,000, grade C at Rs 30,000- 31,000 while grade D offered at Rs 28,000- 30,000 a candy. Prices of V-797 cotton grade A remained at Rs 24,500- 26,000 while grade B offered at Rs 20,000- 22,000 a candy.
In Maharashtra and Madhya Pradesh, cotton 24/26 MM traded at Rs 27,000- 29,000 a candy, 28 MM quoted at Rs 30,000- 32,000 a candy while 29/30 MM at Rs 33,000- 34,500 a candy.
After gaining Rs 50-75 a maund in the morning, cotton is witnessing dull demand and an increase in selling in major north India markets Friday. Total arrival in the country was 3,000 bales.
Traders apprised that a major mill sold around 200 bales of cotton at Rs 3,750 a maund but the millers who were buying from the last few days are not taking interest in dealing at current hiked prices. This is why market sentiment is dull.
Millers have increased yarn prices tracking a hike in cotton prices in the last few days. Though, there has not been any deal but it is expected further. Millers increased the price of 30 count combed yarn by Rs 5 a kg and are quoting it at Rs 160 a kg.
The crop condition in north India is reported to be good. A decent downpour recently was favourable for the standing crop. Balls have started to emerge and Cultivation may get start by August end.
In Punjab, ready delivery S-G cotton traded at Rs 3,725- 3,750 a maund. In Haryana, it offered at Rs 3,600- 3,625 while in Rajasthan, ready delivery cotton quoted at Rs 3,550- 3,650 a maund.
Cotton traded steady to strong in major west India markets Friday. Prices of good quality cooton are ruling higher while inferior is being quoted stable. Total arrival in the country was 3,000 bales.
Traders apprised that buying has become dull after an incessant roll up in prices in the past few days. Though exporters are enquiring, but sellers are not ready to sell at the prices being quoted by the former. A south-Indian miller bought 3,000 bales of cotton at Rs 35,000- 35,500 per candy.
In Gujarat, S-6 grade A cotton traded at Rs 35,000- 36,000 per candy, grade B at Rs 32,000- 33,000, grade C at Rs 30,000- 31,000 while grade D offered at Rs 28,000- 30,000 a candy. Prices of V-797 cotton grade A remained at Rs 24,500- 26,000 while grade B offered at Rs 20,000- 22,000 a candy.
In Maharashtra and Madhya Pradesh, cotton 24/26 MM traded at Rs 27,000- 29,000 a candy, 28 MM quoted at Rs 30,000- 32,000 a candy while 29/30 MM at Rs 33,000- 34,500 a candy.