New Delhi, May 21 (Commodities Control): Cotton prices remained stable for the fifth consecutive trading day in Lower Rajasthan on Tuesday due to limited demand from spinning mills, while the daily arrival of Kapas in the state's mandis has also remained stable.
According to traders, there is virtually no outstanding stock of Kapas left in the state. The combination of raw material shortages and rising temperatures has led most ginning mills in Lower Rajasthan to halt production, although significant stock remains in mill warehouses.
Despite current cotton prices causing losses for ginners, local demand for cotton yarn has not met expectations. Consequently, a significant rise in cotton prices is not anticipated. Nonetheless, Kapas prices in the state have increased by Rs 100, and cotton prices by Rs 250.
Today, the domestic futures market for cotton showed a mixed trend. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 15.5 to Rs 1,590 per 20 kg, while cotton prices in the May-24 futures contract on MCX weakened by Rs 300 to Rs 55,800 per candy.
The arrival of Kapas in Lower Rajasthan's mandis was recorded at 200 bales, each weighing 170 kg, the same as the previous trading day's arrivals.
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(By CommoditiesControl Bureau: +91-9820130172)
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