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Stability Marks Cotton Prices in Lower Rajasthan Amid Limited Demand

10 May 2024 12:41 pm
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New Delhi, May 10 (Commodities Control): Cotton prices maintained steady trend for the fifth consecutive day in Lower Rajasthan on Friday, owing to limited purchases from spinning mills. Concurrently, the daily arrival of Kapas in the state's mandis remained consistent.

Traders observed a downturn in cotton prices in the global market on Thursday, with prices continuing to weaken in electronic trading. Despite these international fluctuations, ginners in the state refrained from selling cotton at lower prices, citing unprofitability for ginning mills at current price levels. Similarly, spinning mills in the region opted to procure cotton only as per their immediate requirements, contributing to price stability in the spot market. Kapas and cottonseed prices also remained stable in the state.

In the domestic futures market, cotton prices exhibited a mixed trend. Kapas prices in the April-25 futures contract on NCDEX experienced a marginal decline of Rs 0.5 to Rs 1,562 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX saw an increase of Rs 80 to Rs 57,500 per candy.

The arrival of Kapas in the mandis of Lower Rajasthan today totaled 200 bales, with each bale weighing 170 kg. This figure matched with the arrival on the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)


       
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