Stability Persists in Lower Rajasthan''s Cotton Market Amid Limited Ginning Mills Sales

New Delhi, March 26 (Commodities Control): Cotton prices remained steady for the second consecutive trading day in Lower Rajasthan on Tuesday, attributed to limited sales by ginning mills, while daily arrivals of Kapas in the state's mandis also came to a stagnation.

Traders highlight that ginning mills in the state are refraining from selling cotton at reduced prices, as they had procured Kapas from farmers at higher rates. Consequently, current price levels do not appear profitable for them. Moreover, with March nearing its close, spinning mills in the state are also procuring cotton only based on immediate requirements, resulting in a limited upward movement in cotton prices. This trend is expected to persist, with a continuation of the market's subdued state. Alongside Kapas, cottonseed prices remained stable within the state.

In the domestic futures market today, cotton prices exhibited a mixed trend. The April-24 futures contract for Kapas on NCDEX witnessed a weakening of Rs 4, reaching Rs 1,537 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 20 to Rs 62,000 per candy during this period.

Today, the arrival of Kapas in the mandis of Lower Rajasthan totaled 1,500 bales, with each bale weighing 170 kg, matching the figures from the previous trading day.




(CommoditiesControl Bureau; +91-9820130172)