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Cotton Prices Remain Stable in Karnataka Amid Limited Purchases

7 May 2024 3:30 pm
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New Delhi, May 7 (Commodities Control): Cotton prices continued to remain stable in Karnataka for the fourth consecutive trading day on Tuesday, primarily due to limited purchases from spinning mills. Additionally, with ongoing Lok Sabha elections in the state, there were no arrivals recorded.

Traders highlighted that cotton prices remained steady for the fourth consecutive working day, primarily due to restrained purchases from the state's spinning mills. Weak demand for yarn in the domestic market contributed to this trend. However, ginning mills in the state are also reluctant to reduce prices, given their inventory of high-priced cotton. Consequently, any fluctuations in cotton prices in the domestic market are expected to be limited. Concurrently, both Kapas and cottonseed prices stabilized in the state.

In the domestic futures market, cotton prices witnessed a declining trend today, with Kapas prices falling by Rs 8.5 to Rs 1,574 per 20 kg in April-25 futures contracts on NCDEX.

On Tuesday, no arrivals of Kapas were recorded in the state's mandis, whereas the previous trading day saw 1,500 bales arriving.

(By CommoditiesControl Bureau: +91-9820130172)

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