Cotton

vksharma · #**731** 20th September 2008, 02:03 PM

cotton rallies on stabilization ideas

ICE Futures U.S. cotton posted strong gains Friday as signs of economic stability encouraged buying in commodities and equities, leaving cotton traders more confident on holding positions.

Cotton will take cues from outside markets in the near term while the market keeps an eye on weather in West Texas, analysts said.

Most-active December cotton settled 176 points higher at 62.52 cents and the nearby October contract settled up 105 points at 59.80. For the week, December gained 39 points.

vksharma · #**732** 22nd September 2008, 10:54 AM

prices firm despite heavy buying, spot rate brought down to Rs3,950

September 22 2008: Huge buying was marked on cotton market during the week under review, as soft trend in oil prices besides opportunities ahead are encouraging buyers. Ginners are keeping soft attitude. The spot rate opened at weekend level at RS 4000 but closed at RS 3950 while phutti prices fluctuated per the supplies, dearer in Sindh while lower in Punjab.

The end figures were Rs1900-1950 in Sindh and Rs1825-1925 in Punjab.

madhur31 · #**733** 22nd September 2008, 01:52 PM

rakesh malik no since long.any problem...?

madhur31 · #**734** 23rd September 2008, 10:40 AM

Prices inch up on cotton market

September 23 2008: A number of mills were active to cover the forward buying on cotton market on Monday ahead of Eid-ul-Fitr holidays, dealers said.The official spot rate was unchanged at Rs 3950, they said. Phutti prices in Sindh were higher at Rs 1925-1950 and in Punjab, the rates followed same pattern and posted fresh gains at Rs 1850-1950, they said.
THE FOLLOWING DEALS WERE REPORTED: 4600 bales of cotton from Shahdadpur sold at Rs 4000-4025, 3600 bales from Tando Adam at the same rate, 2000 bales from Sanghar at Rs 4000, same figure from Mirpurkhas at Rs 3975-4000, 1000 bales from Shapur Chakar at Rs 4000, 4000 bales from Qazi Ahmed at Rs 4025, 1000 bales from Burewala at Rs 3975-4000 and same figure from Khanewal at the same rate, dealers said.

madhur31 · #**735** 23rd September 2008, 03:49 PM

No roll-back of cotton MSP, says Vaghela

The Government is unlikely to roll-back the minimum support price (MSP) for cotton, Union Textile Minister Shankersinh Vaghela has said.

"There will be no roll-back of MSP for cotton. MSP is definitely quite high but the move is necessary to safeguard the interests of farmers, as they are getting the benefit of a higher cotton price," Vaghela told reporters here today.

"Industry has a choice to import cheap raw cotton, as we have already removed import duty," Vaghela said.

In July, the Government had scrapped import duty on raw cotton and withdrew export incentives to boost supplies and tame high prices.

The industry protested as the Government raised the minimum support price (MSP) by up to 40 per cent for medium staple cotton. However, the Government said the raise had become necessary due to increased input costs and an overall rise in cotton prices.

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