Cotton Prices Decline in Lower Rajasthan; Daily Arrivals Stable

New Delhi, May 15 (Commodities Control): Cotton prices in Lower Rajasthan witnessed a softening trend on Wednesday, attributed to reduced purchases from spinning mills, while the daily arrival of Kapas in the state's mandis remained stable.

Traders noted that cotton prices softened due to weakened purchases from spinning mills in the domestic market. The sluggishness in the local yarn industry has impacted the demand for cotton. Despite this, ginning mills have been facing losses amidst current cotton prices, as ginners had procured Kapas from farmers at higher rates. Despite stable cottonseed prices in the state, there may persist pressure on cotton prices in the domestic market.

A declining trend was also observed in cotton prices in the domestic futures market today. Kapas prices in the April-25 futures contract on NCDEX weakened by Rs 8.5, settling at Rs 1,553.5 per 20 kg. Similarly, cotton prices in the May-24 futures contract on MCX saw a decline of Rs 680, reaching Rs 55,920 per candy.

The arrival of Kapas in the mandis of Lower Rajasthan today amounted to 200 bales, with each bale weighing 170 kg, matching the figures from the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)