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Related Keywords: cotton bales, Cotton market, demand is surging with passage of time, facing shortage, fresh selling of cotton, Ginners, KCA, official spot rate down, prices heading towards season high, seed cotton price, tight supply of quality lint, unsold stock

At cotton market on tight supply of quality lint witnessed prices heading towards season’s high on Monday dealers said. Some brokers said that demand is surging with the passage of time as country is facing shortage of nearly 5 million bales of cotton.

The official spot rate gained Rs 100 to Rs 5,650. In Punjab, seed-cotton prices were at Rs 3000 and Rs 3200 while in the ready business, around 11000 bales of cotton changed hands between Rs 5100 and Rs 5950.

Related Keywords: acceptability of buyers, all time high cotton inventory, CITI, cotton corporation of India, facing shortage, float global tender, Indian textile industry, India’a perennial buyers, procured cotton, test market tenders, Texprocil, under MSP

Cotton Corporation of India (CCI) has procured cotton of around 9.1 million bales under the MSP (minimum support price) operation, all time high cotton inventory this year, surpassing previous record level of 8.9 million bales in 2008-09. CCI is planning to float a global tender. Initially to test the market tenders will be for 5000 - 10,000 bales (1 bale = 170 kgs) by the current month end.