Indian raw cotton prices have once again started moving northwards after the government removed the ban and put exports of cotton under Open General License (OGL).
Shankar-6 raw cotton prices which were ruling around Rs 30,000 per candy (1 candy = 356 kg) for the last few days crossed the Rs 32,000 per candy price on August 2.
Shankar-6 prices which closed at Rs 30,750 on July 29, jumped to 31,750 on August 1, up 3.25 percent after the government made the announcement.
Cotton prices further ascended to Rs 32,625 per candy on August 2, up 2.76 percent from the previous day. Cotton prices have risen by more than 6 percent in just two days.
They have augmented mainly because of a good number of inquiries coming in to the market from exporters.
Fibre2fashion News Desk - India
20240830145952.gif)
20240925092649.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
