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Stability Persists in Lower Rajasthan Cotton Market Amid Spinning Mills Limited Demand

8 May 2024 12:49 pm
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New Delhi, May 8 (Commodities Control): Cotton prices in Lower Rajasthan remained unchanged for the third consecutive day on Wednesday, primarily due to subdued purchases from spinning mills, coupled with stable daily arrivals of Kapas in the state's mandis.

Traders noted a minimal fluctuation in cotton prices in the global market over the past few days, prompting a cautious approach from the state's spinning mills. Consequently, cotton prices have maintained their stability in the spot market. With reduced arrivals of Kapas and rising temperatures, most ginning mills in the state have halted production, and ginners are inclined to sell at current prices, mitigating the likelihood of significant downward pressure on cotton prices. Similarly, Kapas and cottonseed prices have remained stable in the state.

In the domestic futures market, there was a downward trend in cotton prices today. Kapas prices in the April-25 futures contract on the NCDEX weakened by Rs 7 to Rs 1,568.5 per 20 kg. Additionally, cotton prices in the May-24 futures contract on the MCX experienced a decline of Rs 220 to Rs 57,300 per candy.

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



(By CommoditiesControl Bureau: +91-9820130172)


       
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