Cotton Up On Reports Of Export Quota Rise

Cotton prices extended gains on Friday on reports that the government had released a fresh export quota of 1,00,000 bales (170 kg each), dealers said.

However, fresh mill buying was dull.

Shortage of ready stock against dwindling arrivals at producing centres also aided the uptrend.

"The government has allowed export of 1,00,000 bales for the state-owned

agency, Maharashtra Cotton Growers Federation," one broker said.

"Other such agencies are also demanding export quotas from the government," he added.

In spot deals, Bengal-deshi rose by 10 rupees at Rs 1,060/1,090 per maund (37.32 kg) while Punjab saw-ginned rose by 20 rupees at Rs 1,850/1,900 per maund.

 

F-414 rose by 20/30 rupees at Rs 2,060/2,090 per maund.

Gujarat Kalyan (medium-staple) moved up by 100 rupees at Rs 14,300/14,900 per candy (355.56 kg).

Wagad cotton went up by 100/200 rupees at Rs 13,200/13,300 per candy.