Cotton export demand continues to boost cotton prices

The price of cotton in Maharashtra and northern parts of Gujarat, India increased slightly, mainly due to the expansion of export demand. A dealer in Gujarat Khadi stated that prices may be stronger this month.

The price of New cotton grade A Sankar-6 cotton is 35,500-36,000 rupees/candy and the sales price of B grade is 34,500-35,000 rupees. The A-grade V-797 is priced at 23,000-23,500 rupees/candy and the B-grade is priced at 24,500-25,000 rupees.

The average price of new cotton in Maharashtra is between 33,200-33,700 rupees/candy, 29 amps for class A is offered at 34,000-34,500 rupees/candy, and Madhya Pradesh is previously quoted at 33,200-33. , 700 rupees, later quoted at 34,000-34,600 rupees. DCH 33-34 mm is available at Rs 43,000-44,000/candy.

On Monday, in northern India, due to the active demand for textile mills and exports, the price of cotton rose by Rs 20-25/20 kg, although the arrival volume was as high as 34,000 bales/170 kg. In Punjab, spot cotton prices trade at Rs. 3,525-3,560/cash, in Haryana, Rs. 3,460-3,480, and in Rajasthan, Rs. 3,470-3,480.

The Cotton Association of India reported that the national cotton production is expected to record 34 million bales in 2011-12.

Cotton consumption may be less than 25 million bales, so the carry-over stocks for the next year will be huge.