Related Keywords: cotton, Depreciation, Dollar, Mills, Rajkot, Rupee, Textile
The cotton prices last month saw a rise, by Rs 2,500 a candy (356 kg) due to the soaring demand from mills and exports. At the same time, restricted selling by farmers was seen as one of the reasons for inflation in cotton prices. According to industry sources, prices moved up from Rs 38,300-38,500 a candy to Rs 40,800-41,000.
As per Arun Dalal of Arun Kumar & Co, a leading cotton trader from Ahmedabad, due to improved export, there has been a heavy rise in demand from domestic mills. To create stock, domestic yarn mills also bought cotton in large quantities during December.
