Cotton Ends Higher On Lower Supplies

Lower than expected new crop supplies helped cotton end higher on Wednesday despite poor mill demand, traders said. Arrivals in the Punjab region fell to 7,000/8,000 bales (170 kg each) against the recent daily average of 10,000 bales, they said. In spot deals, Bengal deshi rose by Rs 5-10 to Rs 1,495-1,540 per maund (37.32 kg) while saw-ginned cotton rose by Rs 15-50 to Rs 2,000-2,050 per maund. Long staple Gujarat Sankar 4 rose by Rs 100-200 to Rs 21,200-21,500 per candy (355.56 kg) for average grade while superior grade rose by Rs 50 to Rs 21,650-21,750 per candy.