Mumbai (Commodities Control) - Karnataka cotton prices cooled off on Wednesday amid restricted demand from yarn millers and stockists, while daily arrivals increased. It is to be noted that domestic futures prices recovered tracking global cotton prices. MCX cotton active contract is 0.12% lower at Rs 21,080.
Spot cotton prices eased a bit due to weaker-than-usual demand from stockists, as cotton prices slipped on global benchmark futures along with MCX futures. Markets are a bit jittery ahead of the oath taking ceremony by Joe Biden in the U.S on Wednesday. Daily cotton arrivals on Wednesday were registered at 10,000 bales vs 9,000 bales in the last session.
Karnataka Quotes (Per Quintal)
Kapas - Rs 5,200-6,100
Cottonseed - Rs 2,300-2,525
Mandi-wise Cotton Quotes (Per Candy)
29-29.5 mm - Rs 43,500 -44,000
30/31mm - Rs. 44,500-45,000
DCH 32 BLS 33/34mm- Rs 62,500-66,000
(Commodities Control Bureau)