Coimbatore: Cotton lint prices remained firm during the week with exports continue to drive the market despite the lack of buying support from domestic textile industry.
The momentum of seeded cotton arrivals across the markets continued and steady enquiries for exports of kept the raw cotton prices high making it difficult for the domestic industry, according to South India Cotton Association (SICA) market report. The report said the sluggish off-take of yarn, cloth and garments had proved a dampener for the industry.
Bt cotton share
The share of Bt cotton this season crossed 65% of total cotton area. The latest arrivals of cotton all over India is reported to be little over 37 lakh bales (170 kgs) as against 22 lakh bales during the same time last year.
The lint prices at Punjab, Haryana and Rajasthan were being quoted at Rs 1,600-Rs1,720 per maund (Deshi variety). In the case of J-34 it was being quoted at Rs 1,930-Rs 2,020 (per maund) spot. In Gujarat, lint prices stood firm with Shankar-6 quoting at Rs 19,500-Rs 20,200 per candy and V-979 variety at Rs 15,050 to Rs 15,800. Madhya Pradesh’s Mech-1/H4 quoted at Rs 19,100-Rs 19,900 per candy. Lint prices in Maharashtra quoted at Rs 18,400-Rs 19,800 for the fibre of 28-20 mm.
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