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Cotton Prices Hold Steady in Lower Rajasthan Amid Subdued Demand

11 Nov 2024 12:16 pm
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New Delhi, November 11 (Commodities Control): Cotton prices remained stagnant in Lower Rajasthan on Monday due to limited demand from spinning mills, while Kapas arrivals in the state’s mandis showed a slight decrease.

Traders report that softness in global cotton prices has led domestic mills to make limited purchases, keeping spot prices steady. Additionally, Kapas arrivals in Lower Rajasthan mandis have dropped as farmers hesitate to sell at current prices, unwilling to accept lower rates. This has resulted in stable cottonseed prices alongside Kapas in the region. Given the reduced demand, cotton prices are expected to experience only minimal fluctuations.

In the domestic futures market, a mixed trend was observed today. The April-25 NCDEX futures contract for Kapas rose by ₹1, reaching ₹1,566.5 per 20 kg, while the November-24 MCX cotton futures contract declined by ₹70, closing at ₹56,000 per candy.

Kapas arrivals in Lower Rajasthan mandis were reported at 7,000 bales (one bale weighs 170 kg), down slightly from 7,500 bales on the previous trading day.



(By CommoditiesControl Bureau; +91-9820130172)


       
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