AHMEDABAD: Cotton prices have risen to a decadal high, owing to robust demand from domestic spinning mills.
The demand for natural fibre on the international market has helped to keep local prices stable.
In the local market, the price of Shankar-6 cotton, a benchmark kind extensively farmed in Gujarat, jumped from Rs 50,500 to Rs 51,000 per candy (equal to 356 kg).
Cotton market participants claim that these prices are the highest in the last ten years.
Spinning mills are making significant profits thanks to strong demand for cotton yarn, according to Arun Dalal, a cotton broker in the city.
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