 Cotton export prices in Gujarat shot up during the last few days leading to the festive period of Diwali, by as much as Rs 1,000 per candy (1 candy=315 kg). This was mainly due to the nearly week long holidays that traders take on account of the festive season.
According to a very well known cotton trader, Mr Arun Dalal, who spoke to Fibre2fashion, the Shankar-6 variety of cotton which was ruling at Rs 23,200 per candy on October 16, shot up to Rs 24,200 on October 26, a hike of Rs 1,000 in a matter of just 10 days.
Another reason forwarded by Mr Dalal is that arrivals of cotton fall during the festive period which could also have led to the flare up in prices. There has been renewed interest in cotton from Gujarat from countries like China, Bangladesh, Thailand and Indonesia.
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