India: domestic asking rates weaken

The mid-point of quotes for Shankar-6 has weakened to ₹54,950 per candy, ex gin (approximately 76.85 cents per lb), while that for Punjab J-34 is down to ₹5,550 per maund, ex gin (73.30 cents per lb).

The floor price for Shankar-6 at the Cotton Corporation of India (CCI) auction is steady, with bids for 2025/26-season supplies beginning at ₹56,500 per candy (79.00 cents per lb). Around 572,600 bales of various styles are on offer. Business has slowed in recent days, with just 200 bales sold on January 30, and 1,600 sold on February 3.

Private estimates of arrivals suggest that 121,500 lint equivalent bales were taken to market yards today, mostly from Maharashtra, Gujarat, and Telangana.

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