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Cotton Prices Stable in Lower Rajasthan as Spinning Mills Limit Buying

25 Apr 2024 1:47 pm
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New Delhi, April 25 (Commodities Control): Cotton prices remained stable in Lower Rajasthan for the second consecutive day on Thursday due to limited purchases by spinning mills, while daily arrivals of Kapas halted in the state's mandis.

According to traders, the spinning mills of the state are purchasing cotton only as per their requirement, because recently its prices have weakened in the world market. Hence, the export deals of cotton in the domestic market have decreased as compared to earlier.

However, most of the spinning mills in the state have less outstanding stock of cotton, while the outstanding stock of Kapas of the farmers is almost negligible. Hence, there is no possibility of a major fall in cotton prices in the spot market. Along with Kapas, cottonseed prices have also become stable in the state.

There was a downward trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX weakened by Rs 5.5 to Rs 1,450 per 20 kg. Meanwhile, cotton prices in May-24 futures contract on MCX weakened by Rs 260 to Rs 58,400 per candy.

Kapas arrival in the mandis of Lower Rajasthan today was 300 bales, one bale-170 kg, while the same number of bales were received on the previous trading day.




(By Commoditiescontrol Bureau: +91-9820130172)


       
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