Cotton Prices Stable in North Indian States Amid Spinning Mills Limited Demand

New Delhi, November 11 (Commodities Control): Cotton prices remained steady in North Indian states, including Punjab, Haryana, and Rajasthan, due to subdued demand from spinning mills on Monday. Meanwhile, the daily arrivals of Kapas increased across these regions.

Last Friday, ICE cotton futures saw a decline, with the December-24 contract slipping by 0.07 cents to 70.98 cents, the March-25 contract dropping by 0.18 cents to 73.25 cents, and the May-25 contract down by 0.19 cents to 74.59 cents. On Monday, cotton prices continued to open weaker in ICE's electronic trading.

Traders noted that domestic cotton prices had risen on Friday; however, cotton yarn prices did not keep pace with this increase. This has stabilized cotton prices in the spot market. Experts suggest that the future of cotton prices will hinge on both local and export demand for cotton yarn. With the consumption season approaching, local demand is expected to rise, potentially boosting yarn prices. However, a significant surge in cotton prices is not anticipated as mills are purchasing based solely on immediate requirements. Cottonseed prices have also stabilized alongside Kapas in these states.

Arrivals of new Kapas were reported as follows: approximately 4,000 bales in Haryana, 10,500 bales in Rajasthan, and 800 bales in Punjab.

Cottonseed prices were quoted at ₹4,200 to ₹4,400 per quintal in Punjab and Haryana, while in the Upper Rajasthan line, they ranged from ₹4,200 to ₹4,500 per quintal.

The domestic futures market showed a mixed trend today, with Kapas prices in the April-25 NCDEX futures contract inching up by ₹1 to ₹1,566.5 per 20 kg. In contrast, the November-24 MCX cotton futures contract declined by ₹70, settling at ₹56,000 per candy.

Spot cotton prices across the regions are as follows:
- Punjab: ₹5,720 to ₹5,730 per maund (₹54,400 to ₹54,500 per candy)
- Haryana: ₹5,700 to ₹5,710 per maund (₹54,300 to ₹54,400 per candy)
- Upper Rajasthan: ₹5,710 to ₹5,740 per maund (₹54,400 to ₹54,600 per candy)
- Pilani, Rajasthan: ₹5,710 to ₹5,740 per maund for spot delivery
- Lower Rajasthan: ₹55,200 to ₹55,300 per maund for spot delivery




(By CommoditiesControl Bureau; +91-9820130172)