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Cotton prices stay flat on limited demand by spinners

8 Aug 2022 7:04 pm
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New Delhi, Aug 8 (Commoditiescontrol) - Cotton prices stayed flat in the markets of Karnataka on Monday amid limited demand and stable arrivals. The demand from the spinning mills were limited at higher rates. They are buying as per their short-term demand.



According to traders, the ginning mills were not ready for selling bales at reduced the prices. The spinning mills of the state are currently procuring cotton only as per the requirement, facing disparity due to weak demand in yarn, a trade analyst said.



Weather conditions were bad with cloudy sky and scattered rains.


Cotton sowing in Karnataka has increased to 7.39 lakh hectares in the current kharif season so far, as against 5.06 lakh hectares in the same period last year. According to the India Meteorological Department (IMD), from June 1 to August 7, South East Karnataka has received 49 % more rainfall than normal and North East Karnataka has received 60%more rainfall.




A total 50 bales of 170 kgs each of cotton arrived in the mandis of the state today.
In the state mandis, the price of cottonseed was Rs 3,500 to Rs 4,300 and that of cotton was Rs 10,000 to Rs 11,000 per quintal today.




The price of 29.5/30 mm cotton quoted at Rs 93,000 to Rs 95,000, 29.5 mm of cotton at Rs 91,000 to Rs 93,000 and 29 mm at Rs 89,000 to Rs 91,000 per candy.


       
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