Cotton Market Bulletin (28 October 2023)

Cotton Market Bulletin


Cotton traded easy tone across major spot market of north India on Friday. Prices were quoted down to 40-50 / maund yesterday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab,  Rs 6,400-6,450 a maund. In Haryana, it offered at Rs 6,450-6,500 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,500-6,550 a maund.

Cotton spot prices easy tone across west India market on Friday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 65,500-66,500 a candy and 28.5mm (RD-74) quoted at Rs.64,500-65,500 a candy. V-797 trade at Rs 47,500-48,500 (12-15% trash condition) a candy. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 66500-67,000 a candy.

Cotton spot price was easy tone across the major trading centers of south India.


Firm trend on cotton market: LAHORE: The local cotton market on Wednesday remained steady and the trading volume remained satisfactory. Cotton Analyst Naseem Usman said that the rate of cotton in Sindh is in between Rs 14,500 to Rs 17,000 per maund. The rate of cotton in Punjab is in between Rs 16,000 to Rs 17,500 per maund. The rate of Phutti in Sindh is between Rs 5,500 to Rs 8,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,500 to Rs 8,500 per 40 kg. The rate of cotton in Balochistan is in between Rs 16,000 to Rs 18,000 per maund. 800 bales of Mianwali, 400 bales of Dera Ghazi Khan were sold at Rs 17,500 per maund, 400 bales of Chowk Munda were sold at Rs 15,000 per maund, 200 bales of Fort Abbas were sold at Rs 17,000 per maund and 600 bales of Bhakhar were sold at Rs 16,000 per maund. The Spot Rate remained unchanged at Rs 16,700 per maund. Polyester Fiber was available at Rs 295 per kg.


Cotton futures close lower: ZHENGZHOU, Oct. 27 (Xinhua) — Cotton futures closed lower Thursday in daytime trading on the Zhengzhou Commodity Exchange (ZCE). The most active cotton contract for January 2023 delivery lost 240 yuan (about 33.53 U.S. dollars) to close at 13,000 yuan per tonne. On Thursday, the total trading volume for six listed cotton futures contracts on the ZCE was 547,898 lots with a turnover of 35.88 billion yuan. As the world's largest producer, consumer and exporter of textile, China listed cotton futures on ZCE in June 2004, helping cotton-related enterprises hedge the price risk.

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