Thursday, January 17, 2008

Cotton Prices Move Up On Better Buying Support

Mumbai: Cotton prices edged up today on better buying support, traders at the East India Cotton Association said.

Cotton varieties like NHH-44 and Hedge contract shot up by Rs 300 per candy each on increase of demand.

Bengal Desi, V-797 and Karnataka Jayadhar increased by Rs 100 per candy each owing to lesser stock supply.

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H-4, S-6-A and MCU-5 also shot up by Rs 100 per candy each on improved demand, traders added.

Following are the spot cotton rates per candy (355.62 kg) in Rupees: Bengal Desi: 17,300, V-797: 17,800, Karnataka Jayadhar: 17,100 Y-1: no stocks, Punjab J-34: 19,100, NHH-44: 19,600, LRA: 19,100, H-4: 19,500, S-6-A grade: 19,800, Bunny/Brahma: 21,100, MCU-5: 20,800, DCH-32: 21,800, 35-MM: 29,100, Hedge Contract: 19,600.

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