Cotton - Prices improve due to demand from spinning mills

Cotton prices improved in Gujarat as well as North Indian states on Monday due to improvement in demand from spinning mills. In Ahmedabad, Gujarat, the price of 29 Shankar 6 variety cotton increased by Rs 150 from Rs 57,800 to Rs 58,200 per candy, one candy - 356 kg. There was an upward trend in cotton prices yesterday evening on domestic futures market MCX as well as NCDX. Cotton prices rose in the evening session in ICE electronic trading. Cotton prices increased in Gujarat as well as North Indian states due to improvement in limited demand from spinning mills. According to traders, there has been an improvement in the prices of ICE cotton futures, due to which the prices in the domestic market increased. According to experts, most of the small spinning mills across the country have less outstanding stock of cotton, while the demand for cotton yarn is expected to increase in the coming days due to the consumption season. Therefore, mills will have to purchase cotton in the coming days. The daily arrivals of cotton in the producer markets are expected to decrease in the coming days. Despite this, the rise or fall in cotton prices in the domestic market will depend on the prices in the world market.

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