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Cotton stays subdued in Lower Rajasthan amid sluggish offtake, higher arrivals

29 Sep 2022 2:29 pm
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NEW DELHI, Sept 29 (Commoditiescontrol): Cotton prices weakened in the mandis of lower Rajasthan for the fourth consecutive day on Thursday amid lower demand from mills, while daily arrivals were reported higher.

According to traders, with the weather has cleared up in the cotton producing areas of the state, the arrival of new cotton in the mandis is increasing continuously. Therefore, the mills of the state are adopting a wait-and-see approach. The daily arrivals of cotton in the state's mandis will increase further in October, while local and export demand for yarn remained weak, due to which spinning mills are facing disparity at current cotton prices. Moreover, cotton exports are also not getting parity. Therefore, cotton prices are expected to fall further.

A downtrend was seen in cotton and kapas prices in the domestic futures market today afternoon with April'23 futures contract of kapas on the NCDEX edged lower by 0.69 percent. The November month cotton contract on the MCX also fell by Rs 550 at Rs 29,620 per bale (1 bale -170 kg).

A total 4,000 bales of kapas arrived today in the state, up from 3,300 bales a day ago.

In Alwar, Khairthal and Behror lines of the state, the price of 28.5 mm cotton was at Rs 66,000-67,000 per candy (one candy - 356 kg).

In Mewar/Vijaynagar line, there is no availability of premium quality cotton of 28 mm.

Cotton prices in Marwar line quoted at Rs 66,000 - 68,000 per candy.

Cotton prices in Beawar line were Rs 66,000 - 68,000 per candy.

Cottonseed prices ranged from Rs 3,650 to Rs 3,800 per quintal in the state's mandis, while kapas at Rs 8,000-8,700 per quintal.



       
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