Sankar-6 prices fall as new crop reaches market

Sankar-6 prices have fallen in Gujarat, the top cotton producer in the country, as fresh arrivals of early sown cotton have started in the state, traders and ginners told NewsWire18 today.

“Prices of long staple Bt cotton, popularly known as Sankar-6, have fallen by Rs 500-600 a candy from last week’s prices of Rs 28,400-28,500 as new arrivals have started coming in at around seven marketing yards of the state,” said Arun Dalal, an Ahmedabad-based trader.

On Monday, Sankar-6 premium quality (29mm) prices opened at Rs 27,800-27,900 a candy in Gujarat. Currently, total daily arrivals are around 500-600 bales, Dalal said.

Cotton arrivals have started mainly in market yards located in Saurashtra region including Amreli, Savarkundla, Rajkot, Halvad and in Radhanpur in north Gujarat, he said.

“Sentiments have weakened in the market as traders expect a healthy output of cotton in the state. Gujarat’s cotton output in 2008-09 (Oct-Sep) will be around 11 million bales marginally down from 11.5 million bales in 2007-08,” Dalal said.