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Cotton Prices Hold Steady in Lower Rajasthan as Spinning Mills Limit Purchases

26 Apr 2024 1:57 pm
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New Delhi, April 26 (Commodities Control): Cotton prices remained stable in Lower Rajasthan for the third consecutive day on Friday amid limited purchases by spinning mills, while consistent arrivals of Kapas noted in the state's mandis.

Traders note that with ongoing Lok Sabha elections in the state, trade activities are restricted. Moreover, spinning mills in the region are procuring cotton in limited quantities due to recent price declines in the global market.

Consequently, the margin of cotton export deals from the domestic market has decreased compared to earlier, potentially influencing slight fluctuations in cotton prices in the spot market. Concurrently, the prices of cottonseed have stabilized alongside Kapas in the state.

In the domestic futures market, cotton prices exhibited a mixed trend today. The April-24 futures contract for Kapas on NCDEX witnessed a weakening by Rs 2, remaining at Rs 1,448 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 60 to Rs 58,680 per candy.

Today, the arrival of cotton in the markets of Lower Rajasthan amounted to 300 bales, each bale weighing 170 kg, consistent with the previous trading day's arrivals.

(By Commoditiescontrol Bureau: +91-9820130172)

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