Cotton prices which had dipped to their lowest point in July-end since the beginning of the current year, once again started ascending from the first week of August.
The upsurge in cotton prices came following the announcement from the Indian government withdrawing the cap on cotton exports and putting the commodity under Open General License (OGL).
Shankar-6 cotton prices which had stood at Rs 31,750 per candy (1 candy = 355 kg) on August 1, surged to Rs 37,750 on August 23, up a staggering 18.89 percent in a matter of just 23 days.
Each working day between the period, has witnessed cotton prices rising without a pause, except for two days when it fell back marginally and on one single day it maintained stability.
Editor's note:
It is expected that cotton prices will continue to surge till new cotton arrives in the market beginning from October. The Indian cotton season runs between October and September.
Click here to view and download price trends from August 1.
Fibre2fashion News Desk - India
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