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Cotton Prices Stable in Karnataka; Daily Arrivals Decrease

14 May 2024 2:30 pm
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New Delhi, May 14 (Commodities Control): Cotton prices remained unchanged in Karnataka for the fourth consecutive trading day on Tuesday due to limited demand from spinning mills. Additionally, a decline in the daily arrivals of Kapas was observed in the state's mandis.

Traders highlighted that the ginning mills in the state currently hold a significant stock of cotton, as spinning mills are procuring cotton only as per their immediate requirements. Recent weaknesses in cotton prices in the global market have impacted the export demand for cotton and yarn from the domestic market. Consequently, cotton prices have maintained stability in the spot market. In Karnataka, Kapas prices weakened by Rs 50, while cottonseed prices increased by Rs 50.

In the domestic futures market, there was a declining trend 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.

On Tuesday, the arrival of Kapas in the mandis of the state amounted to 1,500 bales, with each bale weighing 170 kg, compared to 2,000 bales on the previous trading day.




(By CommoditiesControl Bureau: +91-9820130172)

       
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