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Cotton lint prices firm

Our Bureau

COIMBATORE, March 24

COTTON lint prices displayed a firm trend during the last fortnight. Mill enquiries were widespread both for quality lots as well as average lots. Sellers were quoting higher prices for quality lots in the domestic market, as the prices firmed up in the global market.

In Punjab, Haryana and Rajasthan, prices remained firm. Bengal Deshi was offered at Rs. 1,120 to Rs. 1,160 per maund spot. J 34 saw ginned was being quoted at Rs. 1,650 to Rs. 1,730 per maund spot.

A mixed trend prevailed in Gujarat. Demand was mostly for quality lots. V 797 new crop was offered at Rs. 13,100 per candy spot, while Shankar 6 was being quoted at Rs. 19,000-21,000 per candy spot. In Madhya Pradesh, prices displayed a firm tendency. Y 1 was ruling at Rs. 15,400-15,800 per candy spot.

Prices remained steady in Andhra Pradesh and Tamil Nadu. LK was being quoted at Rs. 19,100-19,400 per candy spot and MCU 5 at Rs. 23,000-24,200 per candy spot.

The Cotton Advisory Board has revised the cotton crop estimate at 167 lakh bales as against the earlier estimate of 175 lakh bales. The supply has been estimated at 215.5 lakh bales with 12 lakh bales as imports against the total offtake of 172.5 lakh ba les. The carryover stock at 43 lakh bales was lower by about six lakh bales compared to the earlier estimate of 49 lakh bales.