New Delhi: Cotton prices have increased about 5 per cent in the past one month owing to a pickup in export demand from main importers China, Bangladesh and Vietnam, said traders . The prices may stay firm and exports are likely to increase amid the likelihood of the US signing the first phase of a trade treaty with China this month, they said.Domestic prices of cotton have increased to Rs 38,500-39,500 per candy of 356 kg, said Mahesh Sharda, president, Indian Cotton Association. “If international prices are supportive, then we can easily see a rise of 10 per cent in prices by March,” he said.“Since the past one month, trade inquires have started picking up from China and Bangladesh and contracts are being signed for January-February deliveries. We expect our markets to remain steady to firm,” said Sharda. “Similarly, on the MCX , prices increased 3 per cent to Rs 19,600 in the same period.

Source: Economic Times January 02, 2020 02:26 UTC