India: prices firmer
Interior asking rates for Shankar-6 new crop have ruled firm today, to a range around Rs. 33,000 per candy, ex-gin, or Rs.250 more than yesterday. With a slightly stronger rupee, today’s equivalent value is approximately 64.90 US cents per lb. Conversely, Punjab J-34 has seen rates easier, at around Rs. 3,490 per maund (65.40 US cents per lb).
Nationwide, seed cotton arrivals are estimated at around 42,500 lint equivalent bales (170 kgs), including 9,000 from Gujarat, a similar quantity from Maharashtra, 10,000 from the Northern Zone and 8,000 from Andhra Pradesh.
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