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Cotton Prices Remain Steady in Lower Rajasthan; Daily Arrivals Consistent

6 May 2024 3:10 pm
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New Delhi, May 6 (Commodities Control): Cotton prices remained stagnant in Lower Rajasthan on Monday, attributed to subdued purchases from spinning mills, while daily arrivals of Kapas in the state's mandis remained stable.

Traders note that although there was an increase in cotton prices in the state on Saturday, the uptake in subscriptions for cotton yarn did not match the rise, resulting in a pause in cotton prices in the spot market. Experts suggest that the recent decline in global cotton prices has made exports less lucrative, thereby contributing to the reluctance of spinning mills to increase inventory in the spot market. Alongside Kapas, cottonseed prices also stabilized in the state.

In the domestic futures market, cotton prices witnessed an upward trend today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 9 to reach Rs 1,581 per 20 kg.

The arrival of Kapas in the mandis of Lower Rajasthan today amounted to 300 bales, with each bale weighing 170 kg, matching the arrival figures of the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)


       
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