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After a rise, cotton prices dip as market arrivals improve

With increase in cotton arrivals in market amidst sagging demand from spinning mills, prices that shot up last week in the wake of government’s bold move at demonetization, have started falling. Daily market arrivals improved to around 1.2 lakh bales (of 170 kg each) from around 80,000 bales last week.

After touching a high of Rs. 41,000 per candy (355 kg), prices have now come down to between Rs 39,000-39,500. Similarly, prices of raw cotton (kapas) have fallen down to between Rs. 4,900-5,000 from Rs. 5,200-5,300 that prevailed last week. Also, cotton seed prices have come down by Rs. 100-150 per quintal to around Rs. 2,200-2,250, trade sources said.

 
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