Cotton Mixed, State Agencies Offer Discount

Cotton ended Friday mixed amid low mill demand and on expectations of improved supplies in the coming days, traders said.

State-owned agencies have started offering discounts on bulk sales which kept the market sentiment weak, said trader Manilal Mehta. Traders reported supplies of 600/700 bales (170 kg each) in the Punjab region against 1,500/1,600 bales traded on Thursday.

In spot deals, Bengal-deshi was steady at Rs 1,525/1,590 per maund (37.32 kg) and saw-ginned cotton at 1,955/2,170. F-414 was unchanged at Rs 2,160/2,165 per maund.

In Gujarat varieties, short and medium-staple cotton were steady on low supplies and stray mill demand, traders said. Gujarat Kalyan was steady at Rs 14,700/15,100 per candy (355.56 kg) while Wagad cotton gained Rs 200 to Rs 14,400/14,600.

 

Kala-ginned rose Rs 100 to Rs 13,800/13,900 per candy.

Long-staple Gujarat Shankar-4 was steady at Rs 17,500/18,000 for average grade and Rs 20,500/21,000 for superior grade.

Market sentiment was subdued at close amid sluggish mill buying and on expectations of higher arrivals of imported cotton later this month, Mehta said.