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Cotton Prices Maintain Stability in Karnataka as Spinning Mills Limit Buying

27 Apr 2024 2:45 pm
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New Delhi, April 27 (Commodities Control): Cotton prices remained steady in Karnataka on Saturday for the fourth consecutive day, with limited purchases by spinning mills contributing to the stability, while daily arrivals of Kapas in the state's mandis witnessed a decline.

Traders noted that cotton experienced a mixed trend in the global market on Friday, yet prices remained stable in the domestic market due to restrained purchases by spinning mills in the state. The local demand for yarn in the spot market is weaker than usual, but ginners are reluctant to reduce cotton prices as the arrival of Kapas in the producing mandis is occurring in limited quantities. Alongside Kapas, cottonseed prices also stabilized in the state.

On Saturday, the arrival of Kapas in the state's mandis amounted to 1,500 bales, with each bale weighing 170 kg, compared to 2,000 bales on the previous trading day.

(By Commoditiescontrol Bureau: +91-9820130172)

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