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Cotton prices rule steady

Our Bureau

COIMBATORE, Aug. 10

COTTON lint prices continued to remain steady during the last fortnight.

In Punjab, Haryana and Rajasthan, lint prices did not change. Bengal Deshi was ruling at Rs.1,130 to Rs.1,240 per maund spot. J-34 quoted at its earlier level between Rs.1,840 and Rs.1,970 per maund spot.

The weakening of rains in the latter part of July had created moisture stress for completion of sowing operations in Gujarat. Trade sources have voiced apprehension about the effect of drought on the volume of the crop as also its quality in this belt. V -797 was being quoted at Rs.13,600 and Rs.14,200 per candy spot, while Shankar-6 ruled betweeen Rs.20,300 and Rs.21,900 per candy spot.

While Madhya Pradesh, Maharashtra and Andhra Pradesh witnessed a steady trend in lint prices, a firm trend prevailed in Karnataka. MCU-5, MCU-7 and RCH lots arrived in the regulated markets in Tamil Nadu, where the prices did not change.

The Cotton Advisory Board has revised the crop volume to 156 lakh bales as against the earlier estimate of 167 lakh bales. The area under cotton is estimated to be 86.46 lakh hectares compared to the earlier estimate of 85.28 lakh hectares.

Trade sources say the forthcoming cotton season (October 2000 to September 2001) would see higher yields.