Cotton Prices Firm Up On Stock Shortage

Cotton prices were steady to firm on Monday due to a shortfall in the availability of quality stock as the current season neared its end, dealers said.

Traders said most of the crop from the 1996/97 cotton season (October/September), estimated at a record 16.78 million bales, had arrived in the market. They said farmers were now getting ready for sowing operations with monsoon rains anticipated in the second week of June.

In spot, Bengal-deshi was quoted at Rs 1,010/1,030 per maund, F-414 rose Rs 50 to 2,110 per maund. Gujarat Kalyan (medium-staple) rose Rs 200 to 14,500/14,700 per candy