Back on the heels of the new cotton crop arriving in the markets of Punjab and Haryana , lint traders in Gujarat are also reporting of receiving around 2,000-3,000 bales of cotton on an daily basis.
Cotton has started arriving in the main cotton produucing belts and markets, which include Rajkot with 80 tons, Botad, 36 tons, Amreli 300 tons, Halvad 240 tons, Jasdan 16 tons and Savarkundla 110 tons.
This year, though the prices are lower than those commanded in the previous cotton year, since the quality is not so good. Last year, at the onset of the cotton year, cotton was trading between Rs 570-600 per 20 kg while this year it is Rs 430-537.
Yesterday, in the Ahmedabad market, Shankar 6 cotton of 29 mm was quoting between
Rs 22,500-22,700 per bale, 28 mm between Rs 21,800-22,200 and 27 mm between Rs 21,300-21,600.
Exports of cotton are expected to double to 6.5 million bales from around 3.2 million bales in the previous year. Cotton output is also projected to increase to 31.1 million in the new cotton season, vis-à-vis, 29.3 million bales in 2008-09.
Fibre2fashion News Desk - India
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