Cotton prices fall as fresh crop ar­rives

Mint ST - - MARK TO MARKET -

Price of Sankar-6 va­ri­ety of cotton, widely used by yarn spin­ning mills, fell by 6.6% last week from Septem­ber lev­els. Fresh sup­ply of about 345 lakh bales (1 bale=170kg) ar­rived into the mar­ket. This, along with im­ports, as­sures ad­e­quate sup­ply for the year. Mean­while, cotton prices too that had firmed up in global mar­kets dur­ing the re­cent hur­ri­cane, eased as the dam­age to crop in the re­gion was not too high. Be­sides, global cotton out­put this year is ex­pected to be higher than last year, with ma­jor pro­duc­ing na­tions like Pak­istan and China es­ti­mat­ing higher out­put. So, do­mes­tic cotton prices will re­main sta­ble at slightly lower lev­els when com­pared to the pre­vi­ous year.

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