New Delhi, April 17 (Commodities Control): Cotton prices witnessed a decline in Karnataka on Wednesday, attributed to subdued demand from spinning mills, while a decrease in daily arrivals of Kapas noted in the state's mandis.
Traders pointed out that cotton prices in the domestic market are closely tracking the movements of ICE cotton futures. Consequently, with the fall in cotton prices in the global market, purchases from Karnataka's spinning mills have dwindled.
This decline in demand has subsequently led to a decrease in cotton prices in the spot market. Moreover, both local and export demand for yarn within the domestic market are weaker than usual, further dampening the prospects of a significant uptick in cotton prices in the spot market. Kapas prices in the state experienced a decline of Rs 100, while cottonseed prices saw an increase of Rs 50.
On Wednesday, the arrival of Kapas in the state's mandis amounted to 2,500 bales, each weighing 170 kg, compared to 3,000 bales recorded on the previous trading day.
(447) (1).png)
(CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
