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Cotton Prices Remain Unchanged in Lower Rajasthan; Daily Arrivals Hold Steady

16 May 2024 3:10 pm
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New Delhi, May 16 (Commodities Control): Cotton prices in Lower Rajasthan maintained stability on Thursday, attributed to limited purchases from spinning mills, while the daily arrival of Kapas in the state's mandis remained consistent.

Traders noted that local demand for yarn in Lower Rajasthan is currently subdued, prompting spinning mills to procure cotton only as per immediate requirements. While most ginning mills in the state have ceased production due to reduced Kapas arrivals and rising temperatures, the outstanding stock of cotton with ginners remains high. Consequently, any significant upward movement in cotton prices is anticipated only when yarn off-take experiences an uptick. Alongside Kapas, cottonseed prices also maintained stability in the state.

In the domestic futures market, cotton prices exhibited an upward trend today. Kapas prices saw an increase of Rs 5 to reach Rs 1,560 per 20 kg in the April-25 futures contract on NCDEX. Similarly, cotton prices in the May-24 futures contract on MCX rose by Rs 120 to Rs 56,100 per candy.

The arrival of Kapas in Lower Rajasthan's mandis today stood at 200 bales, with each bale weighing 170 kg, matching the figures from the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)


       
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