By admin       2019-03-13

There is some concern on the supply side though. While cotton output for 2018-19 has been revised downward by the trade to about 325 lakh bales, the Agriculture Ministry estimate is even lower and possibly closer to reality at 301 lakh bales as compared with the production target of 355 lakh bales. In other words, cotton market fundamentals are tightening. There are concerns relating to quality. Unseasonal rains have reportedly damaged the crop and hurt quality in some producing regions. In other words, the availability of really good quality cotton is tightening. Popular variety Shankar-6, currently trading at about ₹42,000 a candy (355 kilograms), is in great demand. Trade representatives are confident S-6 rates will rise by at least 10 per cent in the coming months to around ₹46,000 a candy. Prices of other varieties will also be lifted as well.

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