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Cotton Prices Decline in Karnataka; Daily Arrivals Remain Stable

1 May 2024 4:02 pm
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New Delhi, May 1 (Commodities Control): Cotton prices witnessed a decline in Karnataka on Wednesday, attributed to reduced purchases from spinning mills, while daily arrivals of Kapas remained stable in the state mandis.

Traders noted that cotton prices in the domestic market are fluctuating in line with the prices of ICE cotton futures. Consequently, with a decline of three points in ICE cotton futures on Tuesday, prices experienced a downturn due to weakened purchases from spinning mills in the domestic market as well.

Despite the Cotton Corporation of India (CCI) selling cotton at elevated prices domestically, the arrival of Kapas in mandis across the country has significantly decreased. Consequently, traders in the spot market are not overly bearish on cotton prices. Kapas prices in the state weakened by Rs 125, while cottonseed prices fell by Rs 325.

On Wednesday, the arrival of Kapas in the state's mandis totaled 2,000 bales, each bale weighing 170 kg, consistent with the arrival recorded on the previous trading day.



(By Commoditiescontrol Bureau: +91-9820130172)


       
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