New Delhi, May 13 (Commodities Control): Cotton prices in Karnataka remained stable for the third consecutive trading day on Monday due to limited demand from spinning mills, despite an increase in the daily arrivals of Kapas in the state's mandis.
Traders note that although cotton prices surged in the global market today, prices in Karnataka stayed stable as the profitability of cotton exports appears compromised. Additionally, weaker-than-normal local demand for cotton yarn has resulted in mills holding less cotton stock and more yarn. Kapas prices in the state saw a rise of Rs 100, while cottonseed prices increased by Rs 50.
In the domestic futures market, cotton prices displayed a mixed trend today. The April-25 futures contract for Kapas on NCDEX experienced a rise of Rs 10, reaching Rs 1,572 per 20 kg. However, during the same period, cotton prices in the May-24 futures contract on MCX weakened by Rs 260 to Rs 57,100 per candy.
On Monday, the arrival of Kapas in the state's mandis amounted to 2,000 bales, with each bale weighing 170 kg, marking an increase from the previous trading day's arrival of 1,000 bales.
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(By CommoditiesControl Bureau: +91-9820130172)
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