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Stable Cotton Prices in Lower Rajasthan Amid Spinning Mills' Limited Demand

9 May 2024 2:52 pm
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New Delhi, May 9 (Commodities Control): Cotton prices remained steady for the fourth consecutive day in Lower Rajasthan on Thursday, attributed to limited purchases from spinning mills and a decrease in daily arrivals of Kapas in the state's mandis.

Traders note that while cotton prices witnessed an increase in the global market on Wednesday, prices softened in electronic trading today. Consequently, spinning mills in the state are currently procuring cotton only as needed, leading to stability in spot market prices. Experts suggest that although Kapas arrivals in the state's mandis have decreased, the substantial stock of cotton with ginning mills prevents the possibility of significant downward price movements. Additionally, cottonseed prices remained stable in the state.

In the domestic futures market, cotton prices experienced a declining trend today. Kapas prices in the April-25 futures contract on NCDEX weakened by Rs 4 to Rs 1,561.5 per 20 kg. Simultaneously, cotton prices in the May-24 futures contract on MCX declined by Rs 80 to Rs 57,500 per candy.

The arrival of Kapas in Lower Rajasthan's mandis today totaled 200 bales, with one bale equivalent to 170 kg, compared to 300 bales on the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)


       
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