News Tags

Related Keywords: artificial supply shortage, demonetisation affects cotton arrival, fall in daily arrival, farmers not bringing cotton to mandis, ginning factories, Indian Cotton Federation, inventory accumulating, New cotton arrival in market, prevalence of cash, price of Shankar-6 cotton up, price remain firm, Textile Industry, thrity percent drop in arrivals

Demonetization has affected cotton arrivals in the market as farmers are not bringing cotton to the mandis due to widespread prevalence of cash payments. . There has been a 30 percent drop in arrivals, said Atul P Asher, secretary, Indian Cotton Federation (ICF). Business has come down and only 10% of the ginning factories are operating.

Related Keywords: cotton bales, forward buying, mills and spinners busy, official spot rate, Pakistan cotton market, price of lint quality, price remain firm, Punjab, seed cotton price in Sindhi

With both mills and spinners busy in the forward buying, prices showed firmness on the cotton market on Monday, dealers said. The official spot rate maintained week-end levels at Rs 4,600, while seed cotton prices in Sindh were at Rs 2300 and Rs 2450 and in Punjab rates were at Rs 2200 and Rs 2350.

In the ready business, around 17,000 bales of cotton changed hands between Rs 4625 and Rs 4700, dealers said.