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Related Keywords: at Pakistan Cotton market, export cotton bales, gap between demand and supply narrowed, mills and spinners contuned purchasing, Price and trade turnover remained stable, ready businees, spot rate remain static

Price and trade turnover at cotton market remained stable as the gap between demand and supply narrowed down significantly and with mills and spinners continued purchasing on Thursday ahead of Ashura holidays. In the ready business, over 16,000 bales of cotton changed hands between Rs 4750 and Rs 5600, dealers said.

The official spot rate was static at Rs 5350. While in Sindh, seed cotton prices were unchanged at Rs 2600 and Rs 3000 and in Punjab rates also depicted no change at Rs 2800 and Rs 3100, dealers said.

Related Keywords: China top destination, export cotton bales, Export demand for cotton, firm up cotton prices, for India cotton remain inactive, India losing market share in cotton and MMF, Indian Cotton Federation, remain sluggish, spurt in export demand for cotton, world’s cotton area is expected to decline

Export demand for cotton to remain sluggish as China, the top destination for Indian cotton, remaining inactive in importing the commodity, exports are unlikely to see significant growth this year. Due to the sudden spurt in export demand for cotton as helped firm up cotton prices in recent times, according to Indian Cotton Federation (ICF) .

Related Keywords: cotton stock, export cotton bales, leading mills, less buying interest, modest trading, official spot rate, Pakistan cotton market, prices maintained firmness, reduced interest rate, remained unmoved, seed cotton prices, State Bank of Pakistan

In the process of modest trading, dealers said that prices maintained firmness on the cotton market on Saturday. Some leading mills were on the sidelines owing to less buying interest as per market sources. The prices of seed cotton in Sindh were at Rs 2100-2700 and in Punjab at Rs 2500-3100. The official spot rate remained unmoved at Rs 5500

Experts attributed the fall in activity to larger stock with the leading buyers as they had bought major stock than their needs, so some exporters selling their cotton stock to needy mills.

Related Keywords: China, cotton exports, cotton farmers, export cotton bales, Gujarat cotton, Gujarat cotton industry, gujarat government, MSP for cotton

This year Gujarat is expected to produce 1.20 crore bales of cotton. Each year, it exports cotton bales to China as well as other nations. Moreover, owing to bumper produce of cotton in these countries, export of cotton bales has taken a hit.

The Gujarat government on Monday announced relief of R1,100 crore for farmers, including R500 crore relief in electricity bills and R600 crore relief in interest on short-term loan through 50% waiver. Over and above this, the state extended R700 crore assistance to farmers during the ongoing statewide Ravi Krishi Mahotsav.