New Delhi, May 13 (Commodities Control): Cotton prices in Gujarat remained steady on Monday due to subdued demand from spinning mills, although there was an improvement in the daily arrivals of Kapas in the state's mandis.
Traders indicate that the anticipated surge in cotton yarn subscriptions has not materialized, coupled with decreased profitability in cotton exports. Consequently, spinning mills in the state are only procuring cotton as per their immediate requirements, leading to stable prices. Similarly, cottonseed prices also stabilized alongside Kapas in Gujarat.
In the domestic futures market, there was an upward trend observed in cotton prices today. The April-25 futures contract for Kapas on NCDEX witnessed a rise of Rs 10, reaching Rs 1,572 per 20 kg.
The arrival of Kapas in the producer markets of Gujarat totaled 8,000 bales, with each bale weighing 170 kg, marking an improvement from the previous working day's arrival of 7,000 bales.
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(By CommoditiesControl Bureau; +91-9820130172)
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