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Cotton Prices Surge in Lower Rajasthan Amid Increased Spinning Mill Purchases

29 Apr 2024 12:42 pm
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New Delhi, April 29 (Commodities Control): Cotton prices witnessed a notable rise in Lower Rajasthan on Monday, driven by increased purchases from spinning mills. Meanwhile, daily arrivals of Kapas in the state mandis remained stable.

Traders reported a three-point increase in cotton prices in electronic trading on ICE, driving up prices due to enhanced procurement by the state's spinning mills. Most spinning mills in the region are operating with reduced outstanding stock, necessitating fresh cotton purchases. Consequently, a modest uptick in cotton prices is anticipated in the spot market. Concurrently, cottonseed prices remained stable in the state.

In the domestic futures market, cotton prices experienced an upward trajectory today. Kapas prices saw a rise of Rs 2 to reach Rs 1,448 per 20 kg in the April-24 futures contract on NCDEX. Similarly, cotton prices surged by Rs 260 to Rs 58,600 per candy in the May-24 futures contract on MCX.

The arrival of Kapas in Lower Rajasthan mandis today stood at 300 bales, each bale weighing 170 kg, consistent with the previous trading day's arrivals.




(By Commoditiescontrol Bureau: +91-9820130172)


       
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