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Cotton continues to rule steady in Karnataka amid limited buying

28 May 2022 5:52 pm
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NEW DELHI, May 28 (Commoditiescontrol) - Cotton prices continued to rule flat in the mandis of Karnataka on Saturday amid limited buying from spinning mills and steady arrivals.

The weather is clear in the cotton producing areas of the state. According to traders, the mills of the state are left with less than a month's consumption of cotton due to the decline in the production of cotton in the current season, while the imports of cotton are not competitive at higher oveseas prices. The importers are also not taking risk of big import deals because at this time the cotton import deals will take three to four months to arrive. In such a situation, there is no possibility of a big fall in the prices of cotton, but at this time the mills of the state are buying cotton only according to the requirement, because the mills are suffering losses at the current price. Therefore, gradually, the prices of cotton will fall in the spot market.

A total 200 bales (1 bale -170 kg) of cotton arrived in the state's mandis today, unchanged from a day ago.

In the state mandis, the price of cottonseed was Rs 3,800 to Rs 4,500 and that of cotton was Rs 11,000 to Rs 13,000 per quintal today.

The price of 29.5/30 mm cotton quoted at Rs 1,05,000 to Rs 1,07,000, 29.5 mm of cotton at Rs 1,03,000 to Rs 1,05,000 and 29 mm at Rs 1,00,000 to Rs 1,03,000 per candy.

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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