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India:Dull NY and upcountry advice pushes down cotton prices |
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2004-9-22
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Cotton prices for the popular varieties suffered a setback today on heavy offers being made by stock-holders due to subdued advice from global and upcountry markets like Gujarat, Karnataka and Punjab.
Traders at the East India Cotton Association (EICA) said that prices of popular varieties like J-34, Sankar-6,and H-4 declined between Rs100 and Rs200 per candy due to poor spinners and exporters demand induced by weak advice from New York, in addition to other states of the country.
Following were the rates per candy in rupees per quintal: Bengal Desi: 17,200, Gujarat Wagad: Unq, V-797: 17,000, Karnataka Jaydhar: 18,100, Punjab J-34: 18,600, Y-1: 18,700, NHH 44: 19,200, LRA: 19,500, H-4: 21,500, S-6: 22,800, MCU-5: 25,200, DCH-32: 30,500, 26 MM: 20,000. |
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