India: domestic asking rates mixed

The mid-point of quotes for Shankar-6 has risen by ₹100 to ₹54,500 per candy, ex gin (approximately 77.00 cents per lb) today, while that for Punjab J-34 is unchanged at ₹5,550 per maund, ex gin (74.80 cents per lb).

The floor price for Shankar-6 at the Cotton Corporation of India (CCI) auction series is now placed at ₹51,600 per candy (72.95 cents per lb), the second increase in as many days. Around 113,000 bales of various styles are on offer. Sales on Monday were 94,000 bales, the highest number recorded during a single session so far this season.

Private estimates of arrivals suggest that 261,200 lint equivalent bales were taken to market yards today, with the majority of supplies from Telangana, Maharashtra, and Gujarat.

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