New Delhi, May 3 (Commodities Control): Cotton prices in Lower Rajasthan witnessed a decline for the third consecutive day on Friday, attributed to lackluster procurement from spinning mills, while daily arrivals of Kapas in the state's mandis remained stable.
Traders attribute the downturn in prices to a shortage of cash in the spot market, leading to subdued demand for clothing and subsequently weaker local demand for cotton yarn in the domestic market. Consequently, cotton prices in the spot market have seen a continuous decrease. With limited arrivals of Kapas, most ginning mills in the state have halted production.
Experts emphasize that unless there is a significant uptick in local demand for cotton yarn, the possibility of an increase in cotton prices remains low. Meanwhile, Kapas and cottonseed prices have remained stable in the state.
In the domestic futures market, cotton prices displayed a mixed trend today. Kapas prices in April-25 futures contracts on NCDEX weakened by Rs 7.5 to Rs 1,574 per 20 kg. Conversely, cotton prices in May-24 futures contracts on MCX saw a rise of Rs 180 to Rs 57,460 per candy.
The arrival of Kapas in the mandis of Lower Rajasthan today stood at 300 bales, with each bale weighing 170 kg, matching the arrivals on the previous trading day.
(By Commoditiescontrol Bureau: +91-9820130172)
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