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Cotton Prices Decline in Rajasthan Amid Spinning Mills Decreased Purchases

1 May 2024 4:06 pm
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New Delhi, May 1 (Commodities Control): Cotton prices experienced a declining trend in Lower Rajasthan on Wednesday, attributed to reduced purchases from spinning mills, while daily arrivals of Kapas remained stable in the state's mandis.

Traders highlighted that spinning mills in the state are procuring a limited quantity of cotton due to recent price declines in the world market. Consequently, with weakened prices globally, the margins of cotton exporters have shrunk, leading to the formation of new export deals only in limited quantities. However, there is minimal outstanding stock of Kapas left in the state, and most small ginning mills have halted production. Therefore, the likelihood of a significant one-sided decline in cotton prices in the spot market is low. Kapas and cottonseed prices remain stable in the state.

The arrival of Kapas in the mandis of Lower Rajasthan today totaled 300 bales, each bale weighing 170 kg, consistent with the arrival recorded on the previous trading day.



(By Commoditiescontrol Bureau: +91-9820130172)


       
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