New Delhi, May 7 (Commodities Control): Cotton prices maintained stability for the second consecutive day in Lower Rajasthan on Tuesday, attributed to limited purchases from spinning mills, while the daily arrival of Kapas in the state's mandis remained consistent.
Traders reported that spinning mills in the state are currently procuring cotton only as needed. This cautious approach stems from weaker-than-usual local demand for cotton yarn and a decrease in export deals over the past month. Consequently, cotton prices have remained steady in the spot market.
However, a notable observation is the cessation of production in most ginning mills across the state, as operating at the current price point doesn't appear financially viable. Consequently, cotton sales are also sluggish. Both Kapas and cottonseed prices have stabilized in the state amidst this scenario.
In the domestic futures market, a declining trend was witnessed in cotton prices today. Kapas prices in April-25 futures contracts on NCDEX experienced a dip of Rs 5.5 to Rs 1,577 per 20 kg.
The arrival of Kapas in Lower Rajasthan's mandis today amounted to 300 bales, with each bale weighing 170 kg, matching the previous trading day's arrival.
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(By CommoditiesControl Bureau: +91-9820130172)
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