Cotton Prices Stable in Karnataka Amid Spinning Mills Weak Demand, Daily Arrivals Unchanged

New Delhi, March 12 (Commodities Control): Cotton prices in Karnataka remained stable on Tuesday, as spinning mills exhibited low demand due to increased prices. Simultaneously, the daily arrival of Kapas in the state's mandis remained constant.

Traders highlight that cotton prices in Karnataka had been on an upward trajectory for the past four days, leading to a halt in prices due to limited purchases from spinning mills at the elevated rates. Despite this, Indian cotton retains its position as the most competitively priced in the world market, creating expectations for sustained export demand. Anticipating a decrease in the daily arrivals of Kapas in the coming days, market participants foresee a potential improvement in spot market prices. In the state, Kapas prices saw a rise of Rs 75, while cottonseed prices held steady.

The domestic futures market witnessed a mixed trend in cotton prices today. In the April-24 futures contract on NCDEX, Kapas prices weakened by Rs 9.5, settling at Rs 1,639.5 per 20 kg. Conversely, the March-24 futures contract on MCX recorded a Rs 20 increase in cotton prices, reaching Rs 62,660 per candy.

On Tuesday, the arrival of Kapas in Karnataka's mandis amounted to 6,000 bales, with each bale weighing 170 kg. This figure matches with the daily arrivals reported on the previous trading day.



(By CommoditiesControl Bureau; +91-9820130172)