New Delhi, May 11 (Commodities Control): Cotton prices witnessed a decline in Lower Rajasthan on Saturday, primarily due to reduced demand from spinning mills, while the daily arrival of Kapas remained unchanged in the state's mandis.
Traders note that spinning mills in the region are presently procuring cotton only as per immediate requirements, given the stagnant local and export demand for yarn, which has failed to meet expectations. Additionally, recent declines in margins for cotton exporters have added to the subdued market sentiment.
Consequently, cotton prices have softened in the spot market. Compounding this trend, most ginning mills in the state have suspended production, leading to a buildup of substantial cotton stock. Cotton prices in the state weakened by Rs 50, while cottonseed prices remained stable.
Today, the arrival of Kapas in the mandis of Lower Rajasthan stood at 200 bales, with each bale weighing 170 kg, matching the figures from the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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