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Cotton Prices Hold Steady in Karnataka; Daily Arrivals Decrease

11 May 2024 3:24 pm
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New Delhi, May 11 (Commodities Control): Cotton prices remained unchanged in Karnataka's mandis for the second consecutive day on Saturday, with limited demand from spinning mills contributing to the stability, alongside a decline in daily arrivals of Kapas in the state's mandis.

Traders observe that while cotton prices have exhibited sluggishness in the world market over the past two days, prices in the state have remained steady. Ginning mills in Karnataka are refraining from selling cotton by reducing prices, as ginners possess stocks of high-priced Kapas. Experts suggest that any uptick in cotton prices in the domestic market will depend on an increase in local demand for cotton yarn. Meanwhile, Kapas prices in the state witnessed a decline of Rs 125, while cottonseed prices remained stable.

On Saturday, the arrival of Kapas in the mandis of the state was recorded at 1,000 bales, with each bale weighing 170 kg, marking a decrease from the 2,000 bales recorded on the previous trading day.

(By CommoditiesControl Bureau: +91-9820130172)

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