New Delhi, May 17 (Commodities Control): Cotton prices remained stagnant for the second consecutive day in Lower Rajasthan on Friday due to limited demand from spinning mills, while the daily arrival of Kapas in the mandis of the state remained stable.
According to traders, the demand for yarn is weaker than normal and the export of cotton from the domestic market is also not looking profitable. Therefore, procurement from the state's spinning mills remains limited. However, ginners are also suffering losses in the current cotton prices and most of the ginning mills in the state have stopped production due to shortage of raw materials. Despite this, the rise in cotton prices in the domestic market will depend on the price of ICE cotton futures. Along with Kapas, cottonseed prices became stable in the state.
There was an upward trend in cotton prices in the domestic futures market today. Kapas prices rose by Rs 3 to Rs 1,569.5 per 20 kg in April-25 futures contract on NCDEX. During this period, cotton prices in May-24 futures contract on MCX rose by Rs 20 to Rs 56,100 per candy.
The arrival of Kapas in the mandis of Lower Rajasthan today was 200 bales, one bale - 170 kg, whereas the arrival on the previous trading day was the same number of bales.
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(By CommoditiesControl Bureau: +91-9820130172)
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