New Delhi, May 13 (Commodities Control): Cotton prices in Lower Rajasthan remained steady on Monday due to a decrease in selling by ginning mills at lower prices, coupled with stable daily arrivals of Kapas in the state's mandis.
Traders note that cotton prices witnessed an increase in the world market today, leading to a reduction in sales by ginning mills. Consequently, cotton prices stabilized in the spot market. Experts highlight that while major spinning mills in the state hold stocks equivalent to one to one and a quarter month's consumption, smaller mills have stocks for only 20 to 25 days. Therefore, a significant rise in cotton prices is contingent upon an uptick in local demand for yarn. Alongside Kapas, cottonseed prices also maintained stability in the state.
In the domestic futures market, cotton prices displayed an upward trend today. The April-25 futures contract for Kapas on NCDEX saw a rise of Rs 10, reaching Rs 1,572 per 20 kg.
The arrival of Kapas in the mandis of Lower Rajasthan today amounted to 200 bales, with each bale weighing 170 kg, matching the arrivals from the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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