Cotton Prices in North Indian States Stable Amid Spinning Mills'' Limited Procurement

New Delhi, April 6 (Commoditiescontrol): Cotton prices have shown stability in the markets of Punjab, Haryana, and Rajasthan due to a limited demand from spinning mills, whilea dip in daily Kapas arrivals noted within these regions.

In the international scene, ICE cotton futures have witnessed a downward trend for four successive days, with the May-24 futures contract dropping by 0.89 cents to 86.25 cents. The July-24 futures contract saw a decrease of 0.75 cents, closing at 87.82 cents, while the December-24 futures contract declined by 0.87 cents to 82.65 cents.

Despite this international trend, local cotton prices in North India have found some stability. This comes as ginners resist selling at reduced prices, and mills opt to purchase based on immediate need. Industry insiders suggest that spinning mills in these states are managing with limited cotton stock, causing a cautious stance on both buying and selling. The disparity in current market rates has led to expectations of a balanced market movement without significant price swings. While Kapas prices have remained steady, the rates for cottonseed have shown a slight weakness.

Kapas arrivals in these states saw a slight reduction to 4,200 bales (each weighing 170 kg), compared to 4,400 bales on the previous day.

Pricing for Kapas was noted at Rs 6,600 to Rs 7,000 per quintal in Punjab and Haryana, with rates in Upper Rajasthan at Rs 6,700 to Rs 7,100 per quintal. Cottonseed was priced between Rs 2,200 to Rs 2,550 per quintal in Punjab and Haryana, and Rs 2,300 to Rs 2,650 per quintal in Upper Rajasthan.

Spot delivery prices for cotton were observed as follows:
- In Punjab, prices ranged from Rs 5,950 to Rs 5,975 per maund, translating to Rs 56,600 to Rs 56,900 per candy.
- Haryana's cotton was quoted between Rs 5,875 to Rs 5,975 per maund, or Rs 55,900 to Rs 56,900 per candy.
- Upper Rajasthan saw cotton prices at Rs 5,500 to Rs 6,100 per maund, equating to Rs 52,400 to Rs 58,100 per candy.
- Pilani, Rajasthan, matched Upper Rajasthan's pricing for spot delivery.
- Lower Rajasthan noted a rise in cotton spot delivery prices to Rs 58,800 to Rs 59,000 per candy.




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