The cotton prices that initially touched Rs4,800 per quintal is now come down to Rs4,700 per quintal despite the area under cotton cultivation has gone up considerably in the state, the former North India Cotton Association president Ashok Kapur attributed the dip in prices to the current trend in the international market. The farmers arriving with their produce in the grain market here are dejected with the low prices.
The off take of yarn was sluggish and the inventory was piling up as the
Despite slight oscillations, cotton quotes dropped in the Brazilian market in the first fortnight of October, as sellers were either more active in the spot market or retracted, the Center for Advanced Studies on Applied Economics (CEPEA) said in its fortnightly report. New trades were hampered as most buyers bid lower quotes than offer prices.
Between September 29 and October 13, the CEPEA/ESALQ Index dropped 1.8 per cent, closing at 2.3718 BRL ($0.7527) per pound on October 13.
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