New Delhi, December 4 (CommoditiesControl): Cotton prices in Karnataka remained stable on Wednesday due to limited purchases by spinning mills, while daily arrivals of Kapas in the state saw a decline.
Traders noted that cotton prices have held steady for the second consecutive day, primarily due to weak demand from local spinning mills. Both local and export demand for cotton yarn has not met expectations, leading to reduced buying activity. Ginning mills are also seeing lower sales at current prices, as they hold high-priced stock of Kapas. Despite this, cottonseed prices, along with Kapas, have remained stable in the state.
In the domestic futures market, cotton prices showed a mixed trend. On the NCDEX, the price of Kapas for the April-25 futures contract rose by Rs 8, reaching Rs 1,532 per 20 kg. Meanwhile, the price of cotton in the November-24 futures contract on the MCX weakened by Rs 10, settling at Rs 55,350 per candy.
Kapas arrivals in Karnataka’s mandis on Wednesday totaled 22,000 bales, each bale weighing 170 kg, down from 23,000 bales on the previous trading day.
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(CommoditiesControl Bureau; +91-9820130172)
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