India: local prices

In the domestic lint market, prices for Shankar-6 have strengthened by ₹50 per candy to around ₹53,000 per candy, ex gin (approximately 77.65 US cents per lb), while Punjab J-34 is steady at ₹5,515 per maund, ex gin (77.00 cents per lb).

Around 50,500 bales of various styles were on offer at the Cotton Corporation of India’s e-auction today. The floor price for 2023/24-crop Shankar-6 is unchanged at ₹51,200 per candy, ex gin (75.05 cents per lb).

Activity was minimal on the MCX trading platform on Tuesday. By 16.45 IST this afternoon, turnover had increased modestly and the active contract had moved higher.

Seed cotton arrivals are estimated today at 132,800 lint equivalent bales, including 51,000 from Maharashtra, 28,000 from Gujarat, and 16,000 from Telangana.

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