New Delhi, April 9 (Commodities Control): Cotton prices remained stagnant in Lower Rajasthan on Tuesday due to reduced purchases from spinning mills due to increased prices, while daily arrivals of cotton in the state's mandis remained stable.
According to traders, the prices of cotton had increased in the state on Monday, but in comparison, the prices of cotton yarn did not increase. In such a situation, cotton prices stopped due to limited purchases from spinning mills. However, due to the consumption season, local demand for cotton yarn will increase in the coming days, while the outstanding stock of cotton with the mills is less. Therefore, there is no possibility of a major decline in the prices of cotton in the domestic market. Along with Kapas, cottonseed prices became stable in the state.
There was a declining trend in cotton prices in the domestic futures market today. Kapas prices weakened by Re 1 to Rs 1,520 per 20 kg in April-24 futures contract on NCDEX.
The arrival of Kapas in the mandis of Lower Rajasthan today was 800 bales, one bale - 170 kg, whereas the arrival on the previous trading day was the same number of bales.
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(CommoditiesControl Bureau; +91-9820130172)
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