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Cotton Prices Stable in Lower Rajasthan; Daily Arrivals Maintain Stability

14 May 2024 1:52 pm
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New Delhi, May 14 (Commodities Control): Cotton prices in Lower Rajasthan remained stagnant for the second consecutive day on Tuesday due to limited procurement from spinning mills. The daily arrival of Kapas in the state's mandis also sustained stability.

Traders highlighted that the anticipated increase in local demand for yarn has not materialized, leading spinning mills to procure cotton only according to their immediate needs. Despite ginners facing profitability challenges at current cotton prices, the mounting interest and freight charges imposed by banks are pressuring them to make sales. Consequently, cotton prices are maintaining stability in the spot market. Alongside Kapas, cottonseed prices also remained stable in the state.

In the domestic futures market, a declining trend was observed in cotton prices today. Kapas prices in the April-25 futures contract on the NCDEX weakened by Rs 7.5 to Rs 1,562 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 arrival figures from the previous trading day.




(By CommoditiesControl Bureau: +91-9820130172)

       
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