CCI’s Increased Sale of Cottonseed Weakens Prices in North India
Cottonseed prices in several North Indian states declined by up to ₹50 per quintal after the Cotton Corporation of India (CCI) increased its sales on Thursday. The corporation sold 10,97,800 quintals of cottonseed in the domestic market on Thursday, compared to 8,28,800 quintals sold across the country through e-auction on Wednesday. According to sources, even though CCI kept its sale prices unchanged on Thursday, pressure on cottonseed prices was still visible in the spot market. Traders expect CCI’s sales to continue, and with global edible oil prices having softened recently, oil mills are restricting their cottonseed purchases as imported edible oils have become cheaper. In Sirsa, CCI sold 22,900 quintals of cottonseed at ₹3,520–3,620 per quintal. In Sri Ganganagar, 54,700 quintals were sold at ₹3,620–3,820 per quintal, while in Bathinda, 2,400 quintals were sold at ₹3,550 per quintal. On Thursday, CCI sold 4,22,200 quintals of cottonseed in Telangana through e-auction, while sales in Maharashtra stood at 2,41,100 quintals. On Wednesday, CCI had sold 2,67,200 quintals in Telangana. Due to weak demand from oil mills, cottonseed prices in North India witnessed a decline. In Haryana, prices fell by ₹50 to ₹3,450–3,650 per quintal. In Rajasthan, prices dropped by ₹50 to ₹3,550–3,750 per quintal. In Punjab, too, cottonseed prices weakened by ₹50 to ₹3,450–3,650 per quintal. Cottonseed cake prices also remained steady to weak due to sluggish demand from the cattle-feed sector. In Beed, cottonseed cake prices stabilized at ₹3,180–3,300 per quintal. In Balanagar, regular-quality cottonseed cake prices weakened to ₹3,160 per quintal, while in Pimpalgaon, they also fell to ₹3,160 per quintal.