By admin       2018-12-04

December 03 2018 - Cotton arrivals this year during October 1-November 28 stood at 65.79 lakh bales (of 170 kg each), about 31 per cent lower than the 95.09 lakh bales in the corresponding period last year. Cotton arrivals declined as farmers begun to hold back their produce anticipating better prices. However, this huge drop does not seem to have triggered a demand. Industry sources say that the stock position at the mills’ end is comfortable, with most holding close to two months stock. Despite lower arrivals, prices have cooled a bit on slack demand from textiles mills and multinational traders. The mills are not keen on buying at higher prices. At the same time, the MNC traders are still not active in the market as the current pricing is not working in their favour. Prices of Cotton candy, each weighing 356 kg, are now hovering between Rs 44,200 and Rs 44,800 across various markets, depending on the quality as against around Rs 48,000 in early October. Arrivals are likely to improve mid-December.

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