Cotton Prices Hold Steady in North Indian States; Daily Arrivals Decrease

New Delhi, April 20 (Commodities Control): Cotton prices remained steady in the markets of North Indian states including Punjab, Haryana, and Rajasthan on Saturday, attributed to limited demand from spinning mills. Concurrently, daily arrivals of Kapas witnessed a reduction in these states.

ICE cotton futures prices experienced an upward trend on Friday. In the May-24 futures contract, the price surged by 0.59 cents to 78.69 cents, while in the July-24 futures contract, it rose by 0.41 cents to 81.02 cents. Similarly, in the December-24 futures contract, the price increased by 0.14 cents to 77.55 cents.

Traders reported an uptick in cotton prices in the global market on Friday. However, with spinning mills displaying restrained purchasing activity in North Indian states, cotton prices stabilized. Experts noted a decline of six to seven cents in cotton prices in the international market during the current week, rendering exports from the domestic market less lucrative. Consequently, mills in these states are procuring cotton as per immediate requirements, with domestic market price fluctuations dependent on global market dynamics.

In Punjab and Haryana, the price of Kapas weakened by Rs 100, while the price of cottonseed witnessed an increase. Arrivals of Kapas in the producing markets of these states totaled 3,200 bales, compared to 4,000 bales on the previous working day.

In the markets of Punjab and Haryana, Kapas prices quoted at Rs 6,500 to Rs 6,800 per quintal, while in upper Rajasthan, prices ranged from Rs 6,600 to Rs 6,900 per quintal. The price of cottonseed stood at Rs 2,250 to Rs 2,550 in Punjab and Haryana, and Rs 2,350 to Rs 2,800 per quintal in upper Rajasthan.

Spot delivery prices for cotton varied across regions:
- In Punjab: Rs 5,750 to Rs 5,800 per maund, i.e., Rs 54,700 to Rs 55,200 per candy.
- In Haryana: Rs 5,700 to Rs 5,750 per maund, i.e., Rs 54,300 to Rs 54,700 per candy.
- In upper Rajasthan: Rs 5,500 to Rs 5,929 per maund, i.e., Rs 52,400 to Rs 56,400 per candy.
- In Pilani, Rajasthan: Rs 5,500 to Rs 5,925 per maund.
- In lower Rajasthan: Rs 57,300 to Rs 57,500 per candy.



(By Commoditiescontrol Bureau: +91-22-40015505)