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Cotton Prices Stable in Karnataka; Daily Arrivals Decrease

21 May 2024 2:25 pm
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New Delhi, May 21 (Commodities Control): Cotton prices in the Karnataka remained stable for the fourth consecutive trading day on Tuesday due to limited purchases from spinning mills, while a decrease in the daily arrivals of Kapas was recorded in the state.

Traders report a mixed trend in cotton prices in electronic trading on ICE. In the domestic market, spinning mills are purchasing cotton in limited quantities, contributing to stable prices in the spot market. The current cotton season has been challenging for both ginners and spinning mills, particularly over the past month and a half, with mills experiencing trade disparities. Consequently, prices for both Kapas and cottonseed have stabilized in the state.

The domestic futures market displayed a mixed trend today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 10.5 to Rs 1,585 per 20 kg, while cotton prices in the May-24 futures contract on MCX weakened by Rs 100 to Rs 56,000 per candy.

On Tuesday, the arrival of Kapas in Karnataka's mandis was recorded at 1,500 bales, each bale weighing 170 kg, compared to 2,000 bales on the previous trading day.

(By CommoditiesControl Bureau: +91-9820130172)

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