New Delhi, May 18 (Commodities Control): Cotton prices remained stable in Karnataka for the second consecutive day on Saturday, influenced by limited purchases from spinning mills and a decrease in daily Kapas arrivals.
Traders attribute the stability to the decline in global cotton prices this month, prompting spinning mills in the state to refrain from increasing their inventory levels. Consequently, only mills with low outstanding stock are purchasing cotton. Additionally, the local demand for yarn has decreased, and cotton exports are currently not profitable, making a significant rise in cotton prices unlikely in the near future. While Kapas prices in the state increased by Rs 100, cottonseed prices remained unchanged.
On Saturday, cotton arrivals in Karnataka's mandis were recorded at 1,000 bales, each weighing 170 kg, down from 1,500 bales on the previous trading day.
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(By CommoditiesControl Bureau; +91-9820130172)
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