Indian prices, exchange rate

Ex-gin asking rates for Shankar-6 are firm today, at Rs. 39,500 per candy. The rupee has fallen to its weakest point against the US dollar on record, however, and equivalent values are therefore slightly weaker than the level seen on Friday, at around 88.00 cents per lb. In Punjab, J-34 is being offered at levels around Rs. 4,200 per maund, or 89.10 US cents per lb.

Nationwide daily seed cotton arrivals have fallen to just over 20,000 lint equivalent bales (of 170 kgs). Heavy rain has moved into central regions and low-lying areas are waterlogged, causing travel disruption. Sowing is almost complete in the Northern Zone, with the exception of some parts of southern Rajasthan, where late planting will take place.

Posted in: Cotlook Headlines