India: cotton prices to come down
Industry experts have said that with fresh arrival of cotton expected to perk up the Gujarat market in India after Diwali, the price of it may come down.
“The cotton price is expected to come down with fresh cotton arrivals improving in the market post Diwali,” a Cotton Corporation of India (CCI) official said. “In the wake of a stretched monsoon, the bulk fresh cotton arrival in the market got delayed by a month.”
“The usual cotton season – October to September – is likely to commence from November here,” said Gujarat State Cooperative Cotton Federation (GSCCF) managing director, N M Sharma. “In fact the arrival got delayed in the entire Western zone comprising Maharashtra, Madhya Pradesh and Gujarat due to a delayed monsoon.”
“So far the cotton arrival in the market is around 25,000 to 30,000 bales per day, which is expected to double post the festival,” Mr Sharma said. “The new arrivals will be in addition to a lot of old cotton stacked by farmers during the period of ban on exports.”
