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Cotton prices in India may fall to Rs 32,000 per candy
02 Dec '11
1 min read
In view of the limited demand and arrival of new cotton in India, the prices of cotton are likely to fall further.
The prices of cotton have fallen down from Rs. 39,000 per candy (1 candy = 356 kg) a month ago to around Rs. 35,625 per candy on December 1.
On November 30, the price of Shankar-6 cotton in Gujarat was Rs. 35,000, in Maharashtra it was Rs. 34,000, in Andhra Pradesh it was between Rs. 34,500 to Rs. 35,000, while in Punjab it was between Rs. 32,500 to Rs. 33,000.
“The international as well as the domestic demand is less, so it is quite obvious that the prices will fall,” Mr. Anand Popat, Secretary of Saurashtra Ginners Association exclaimed while speaking to fibre2fashion.
“Moreover, the harvest of the crop is beginning now and this season India has bumper cotton production, estimated to be over 34 million bales each of 170 kg. Hence, the market will further fall down and there are chances that the prices may fall up to Rs. 32,000 per candy,” he opined.
The prices of cotton have fallen down from Rs. 39,000 per candy (1 candy = 356 kg) a month ago to around Rs. 35,625 per candy on December 1.
On November 30, the price of Shankar-6 cotton in Gujarat was Rs. 35,000, in Maharashtra it was Rs. 34,000, in Andhra Pradesh it was between Rs. 34,500 to Rs. 35,000, while in Punjab it was between Rs. 32,500 to Rs. 33,000.
“The international as well as the domestic demand is less, so it is quite obvious that the prices will fall,” Mr. Anand Popat, Secretary of Saurashtra Ginners Association exclaimed while speaking to fibre2fashion.
“Moreover, the harvest of the crop is beginning now and this season India has bumper cotton production, estimated to be over 34 million bales each of 170 kg. Hence, the market will further fall down and there are chances that the prices may fall up to Rs. 32,000 per candy,” he opined.
Fibre2fashion News Desk - India
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