Indian raw cotton prices have gone only one way in the month of February – downhill, except for a brief spurt on one single day of the month.
Cotton prices particularly of the Shankar-6 variety have fallen from Rs 36,350 per candy (1 candy = 355 kg) on February 1 to Rs 34,225 per candy on February 29, down 5.85 percent.
Shankar-6 prices had briefly surged to Rs 37,075 per candy on February 6, before once again moving southwards.
Infact on February 27, cotton prices had crashed by Rs 800 per candy or 2.31 percent from the previous day to Rs 33,875 per candy. However, they recovered by Rs 300 per candy the following day.
Low buying activity from Indian textile mills and slowdown in demand from the Chinese market are the main reasons for the fall in prices, aver cotton experts.
Click here to view cotton price trends in February
Fibre2fashion News Desk - India
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