New Delhi, December 05 (Commodities Control): Cotton prices surged in Lower Rajasthan on Thursday, driven by increased buying activity from spinning mills at lower rates. However, Kapas arrivals in the state’s mandis declined compared to the previous trading session.
According to market participants, the price hike stems from strategic purchases by spinning mills taking advantage of lower rates, while ginning mills, holding Kapas stocks acquired at higher prices, refrained from selling. Traders note that despite the current upward trend, they are cautious about any significant one-sided price escalation.
Market sentiment remains tied to ICE cotton futures, where price stability is anticipated. Domestically, Kapas prices in Lower Rajasthan rose by ₹300 per quintal, while cottonseed prices held steady.
Domestic futures also reflected bullish momentum. On NCDEX, the April-25 Kapas futures contract increased by ₹1 to ₹1,531 per 20 kg. On MCX, the November-24 cotton futures contract climbed ₹460 to settle at ₹55,850 per candy.
Meanwhile, Kapas arrivals in Lower Rajasthan were recorded at 6,000 bales (170 kg each), down from 8,000 bales on the previous trading day.
Overall, the current rise in cotton prices reflects a mix of strategic mill purchases and reduced arrivals. However, traders emphasize that ICE trends will continue to influence domestic pricing, suggesting a cautious outlook for significant price movements in the near term.
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(CommoditiesControl Bureau; +91-9820130172)
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