Cotton Prices Hold Steady in Karnataka; Slight Increase in Daily Arrivals Noted

New Delhi, March 19 (Commodities Control): Cotton prices remained stable in Karnataka on Tuesday for the second consecutive day, attributed to limited demand from spinning mills, although the daily arrival of Kapas in the state's mandis saw a slight increase.

Traders reported that cotton prices sustained their stability in the state for the second day in a row due to restrained demand from spinning mills. Despite the potential profitability in exporting cotton and yarn from the domestic market, the local demand for yarn is anticipated to surge in the upcoming days. Consequently, spinning mills in the state are expected to ramp up their cotton purchases in April. Meanwhile, Kapas prices in the state experienced a slight weakening by Rs 25, while cottonseed prices remained stable.

In the domestic futures market, cotton prices displayed a downward trend today. Kapas prices in the April-24 futures contract on NCDEX weakened by Rs 15.5 to reach Rs 1,565 per 20 kg. Similarly, cotton prices in the March-24 futures contract on MCX witnessed a decline of Rs 520 to Rs 61,000 per candy.

On Tuesday, the arrival of Kapas in the state's mandis totaled 5,000 bales, with each bale weighing 170 kg. This figure marks a slight decrease from the previous trading day, which recorded 6,000 bales.



(CommoditiesControl Bureau; +91-9820130172)